Offshore Technology Conference Attendance Reaches 26-Year High

HOUSTON, Texas, USA (May 8, 2008) -- Attendance at the 2008 Offshore Technology Conference (OTC) reached more than 73,000, a 26-year high, as energy professionals from 110 countries met to learn about the latest technology to find and produce offshore oil and natural gas resources. The world's largest offshore event was held May 5-8 at Reliant Park in Houston.

Attendance increased 11 percent from 2007. With more than one-half million square feet of exhibition area, the show included 2,500 companies from more than 35 countries in an area the size of 13 football fields.

"OTC is where offshore energy professionals come to learn about innovative approaches to overcoming technical challenges as we drill in deeper waters. Technology will be crucial to delivering affordable and sustainable energy for the future. OTC offers the chance to share knowledge about getting resources in harsher and more extreme conditions, and to discuss important industry issues," said Don Vardeman, 2008 OTC chairman.

OTC Awards Luncheon keynote speaker Jesús Reyes Heroles, director general, Petróleos Mexicanos (PEMEX), discussed the company's initiatives for replacing declining reserves, including putting more emphasis on deepwater exploration in the Gulf of Mexico. "We must multiply our presence in the Gulf of Mexico, since 55 percent of our total prospective resources are deep in the Gulf of Mexico," said Reyes Heroles. He added that to reach its production goals, PEMEX "needs greater flexibility, enhanced capacity and sufficient resources."

Extended to cover four full days, this year's technical program offered special sessions on significant industry topics, such as the future of petroleum, the potential of gas hydrates as a future energy source, and the challenges facing the industry in meeting increasing demand for energy, plus 300 technical presentations. OTC's Spotlight on New Technology program highlighted 14 innovative technologies that are already making the industry more effective.

OTC held The Next Wave event to address issues important to industry professionals under the age of 35. The second OTC Energy Education Institute brought 100 Houston area elementary and secondary teachers to OTC for a workshop on bringing energy topics to their classrooms.

The 2009 OTC takes place 4-7 May 2009, at Reliant Center at Reliant Park. For more information, visit www.otcnet.org/2009.

About OTC

Founded in 1969, the Offshore Technology Conference is the world's foremost event for the development of offshore resources in the fields of drilling, exploration, production and environmental protection. OTC is held annually at Reliant Park in Houston. For more information, visit www.otcnet.org.