As this year’s Offshore Technology Conference reaches its climax, 2012’s event has had a distinctive international flavour. With the profile of the world renowned show bigger than ever, nations with a developing oil and gas market are keen to promote their products and services at the show.
Among the estimated 2500 companies attending this year’s show, representatives from Egypt, Hong Kong, Indonesia and the Philippines made their debut at the world’s biggest technology conference. With these emerging oil and gas nations making the trip to Houston to showcase their new technologies, services and research to the world, what does this say about the current oil and gas community?
Multinational markets
The international attendees to the Offshore Technology Conference indicates a shift towards emerging markets, cementing the need for new services and technologies from alternative sources in the global arena.
Egyptian delegates representing the petroleum industry were present at this week’s main event, with oil and gas sector playing a major part in the in the Egyptian economy. In its role as an oil exporter, Egypt’s oil comes from four main sources including the Gulf of Suez and the Sinai Peninsula, with the Suez Canal and Sumed pipeline the main routes for export to the Persian Gulf. Eqypt has seen an introduction of new theories and technologies in the natural gas sector increasing investment opportunities in the area.
Hong Kong-based firms BRIC International Group, BRML Solutions and Tycon Alloy Industries joined the exhibitors at OTC, offering trade agency advice, software and pump equipment respectively. Offering essential export services for the demands of the oil and gas sector is Hong Kong’s main contribution to the industry, with the region due to receive gas from Central Asia by mid-2012.
Indonesia is considered one of Asia’s largest oil and gas producers ranking as eighth in the international gas production sector. Presenting at Indonesia OTC for the first time was Pertamina, a publically owned business in upstream and downstream services. The country’s ambitions for the future are determined by some significant investments in LNG and LPG refineries, with $3.65 billion invested to process gas from rigs, in addition to $6.52 earmarked for the production of oil refineries.
High demand for LNG-based gas products ensures that the Philippine market remains strong, despite challenges faced in the oil production in the country. However, their presence at OTC indicated that the Philippines is poised and ready for business.
As the global market continues to expand and emerging markets gain a heavier presence in the industry, competition for top talent grows fiercer every day. This competition is driving compensation packages to increase, especially in these emerging markets as compensation is one of the main draws of talented people to these regions.
Record breaker
With over 635,000 net square feet of exhibition space at this year’s event, OTC 2012 looks set to be the biggest yet. Last year featured over 78,000 attendees, up almost 10 percent on 2010’s figure. Estimated numbers for this week indicate that this year could be the biggest on record. Exhibition space measuring an approximate 635,000 net square feet indicates that Houston is the place to do business, showcasing Houston as the energy capital of the world. Large audiences suggest that the offshore sector is larger than ever, welcoming new businesses into the ever-expanding community.
About the authorJamie Ferguson joined Maxwell Drummond’s Aberdeen team in 2006 and by July 2011 was promoted to Vice President of Global Business Development. Jamie has extensive experience managing executive level searches for clients spanning the oil and gas value chain and has deep industry networks developed from working on assignments in over 20 countries on 6 continents.
Maxwell Drummond International is a world leading retained search consultancy
offering professional search services to clients in all sectors of the energy
and natural resources industries.
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