Another May, another Offshore Technology Conference (OTC). Or is it?

After two years of being battered and bruised, the offshore industry is showing small signs of recovery. In the U.S., for instance, the latest central lease sale in the Gulf of Mexico earned 40% more bids than the last sale held in 2016, indicating that operators have not given up on offshore exploration.

For Joe Fowler, who is chairman of the event again in 2017, these signs indicate hope on the horizon. “Much of our energy comes from the offshore industry,” Fowler said. “It’s critical to the whole nation.”

For Fowler, as for the oil and gas industry in general, technology is key. “What we’re really focusing on in our program this year is how to be more economical but still safe,” he said. “There’s a lot of programming around that.”

Somehow OTC does seem to weather downturns better than other oil and gas trade shows. Fowler is expecting more than 2,000 exhibitors occupying almost 55,742 sq m (600,000 sq ft) of exhibit space and more than 300 technical papers. He’s also expecting a large international contingent.

“We feel like we’re going to have a great conference,” he said.

Offshore operators have taken heed of the efficiencies that onshore operators have been able to achieve to keep shale plays, for instance, affordable even when prices have dropped. And this year’s technical program will make that a focus.

OTC, Offshore Technology Conference, Joe Fowler, offshore, oil

“More than a year ago our board of directors instructed the technical committee to really focus the programming on efficiencies,” he said. “And the technical committee has done a good job with that. We have quite a few papers about how to drill wells quicker [and] how to do projects quicker.”

Overall, Fowler is fairly optimistic about the state of the offshore industry. “I think it’s bottomed out, is stabilizing and is starting to get a little bit better, particularly on the technology side,” he said, adding that mergers such as that between Technip and FMC are indicators that companies are striving to become more efficient. Additionally, the fact that several projects were stalled by the downturn will eventually lead to a supply shortage that even the shale players are unlikely to fill.

“There will be a need for offshore oil,” he said. “And the projects that get done will be those that are the most efficient and cost-effective, yet still safe.”

In fact, safety is a large part of this year’s program. Some of the technical sessions focused on safety include well abandonment and decommissioning challenges, advancements in offshore drilling technology and subsea processing. Breakfasts/luncheons will offer presentations from the Center for Offshore Safety on managing the human side of safety, future regulatory action and strengthening offshore culture.

Another new theme this year is how industry conditions are creating technology breakthroughs, he said. “There are major changes underway in Mexico and Brazil concerning regulation and development of offshore services, designing and developing offshore renewable energy structures and infrastructure,” he said. “We’re also looking at Big Data and the growing importance of cybersecurity. There’s a lot in the program.”

Back from last year are the preconference training programs that allow OTC visitors to obtain continuing education credits from participating professional societies. This year’s topics include frack packing, siliclastic reservoirs, subsea well abandonment, seismic interpretation in deepwater basins and sustainability.

Also in its second year is “Reaching Out and Reaching Up: Networking in the Downturn,” scheduled for Monday from 4 p.m. to 6 p.m. The program is intended to help people get back into the workforce by covering such topics as résumé writing, working with a recruiter and getting an interview.

So what excites Fowler most about the 2017 program? Two things, he said. One is the Rice Alliance Startup Technology program, where 50 emerging energy technology companies will be making pitches to potential investors. The other is the ongoing Energy Challenge program to educate younger students about the industry.

“To get kids interested in the energy industry, you need to start early,” he said. “Local high school students will be solving real-world energy challenges. We’re very proud of that work.”

He concluded, “It’s a tough time in the industry, but OTC is doing a good job. We’re keeping the focus where it should be, which is on technology and safety.”