OTC 2018: 100 offshore projects to be sanctioned this year, Mentor in the front line

May 20, 2018

After visiting this year’s 50th annual OTC in Houston, Texas, Mentor IMC Group has seen an upturn in the Oil & Gas industry, particularly concerning the offshore sector.

From 30th April – 3rd May, OTC saw energy professionals and industry experts from across the globe come together at NRG Park to celebrate the event’s milestone anniversary.

The event was launched by the opening ceremony and ribbon pulling, a Legacy Luncheon, and the Chairman’s Panel on Energy Transformation.

This year’s OTC was heavily focused on current affairs within the industry, ground-breaking new technologies, and recent oil price fluctuations, as well as supporting the Houston community and the conference’s non-profit sponsoring organisations.

A total of over 61,000 attendees from over 100 countries attended OTC 2018, and the exhibition itself consisted of over 2,300 companies, nearly 300 of which were new to the event and 55% of which were international. 

Despite visitor volumes down on last year, overall indications were that the market seems to be picking up again. Rystad Energy have projected that upwards of $100 billion dollar’s worth of offshore projects are anticipated to be sanctioned before the end of 2018 – a welcome boost for the industry.

Continent Number of projects Example of projects
Asia 30 Pegaga, Malaysia
D6, India
America 20 Vito, Gulf of Mexico
Africa 20 Zinia 2
Europe 30 Neptune Deep, Romania
Penguins, UK

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