The tide could finally be turning for the offshore oil and gas industry. The 2003 Offshore Technology Conference, May 5-8 was certainly an indicator that business opportunities could be on the rise. The mood of the conference was decidedly optimistic.
With an official count of 50,655 participants, OTC .03 had the highest attendance since 1985, which attracted 56, 438. Last year's attendance was slightly less than this year's, with a total of 49,620.
Foot traffic through the booths was higher than usual, according to many of the exhibitors. Irving Shipbuilding Inc., of Halifax, Nova Scotia, is a seasoned exhibitor at the OTC. This year, the company's formula for calculating the quantity of booth supplies and business cards proved inadequate. Booth personnel ran out of business cards the second day of the show and had to purchase more giveaways to keep the booth supplied through the end of OTC two days later.
Booth traffic was not only heavy, but also productive. Exhibitors from service and supply companies to engineering firms said the number of contacts and potential business partners visiting their booths was far higher than usual at this year's OTC.
For exhibitors such as the Province of British Columbia, attending OTC for the first time in decades (moratoria have prohibited offshore drilling for the past 30 years), the conference was an incomparable networking opportunity. Provincial government representatives have already decided that the province will participate in OTC 2004.
"OTC is not just a conference, it's the convergence of thousands of people, minds, and ideas for four days of sharing and building relationships," said Charlie Richards, OTC .03 Chairman. "And this year's OTC was extremely successful in light of all the current world events. The event continues to prove its value in the industry and that it is a must-attend for those in the industry."
The 2004 OTC, "Innovation Without Limits," takes place May 3-6 at Reliant Center at Reliant Park.
05/09/03