OTC delegates are split over slow-down in deepwater R&D

News - May 8, 2012

Oil and gas professionals are uncertain over the state of US deep water R&D activity since the Macondo incident in the Gulf of Mexico two years ago.

According to a poll conducted at the Offshore Technology Conference (OTC) in Houston, 52 per cent of participants thought that US deep water R&D activity has stalled since 2010, while 48 per cent said that innovation has continued in this field.

The Industry Snapshot Poll was conducted by global independent technical advisor GL Noble Denton on the third day of OTC. It was also completed online by senior players from across the industry.

Pekka Paasivaara, Member of the GL Group Executive Board, said: “Confidence in the future of deep water exploration and production has increased significantly over the past six months, as drilling returns to the Gulf of Mexico after the Macondo incident.

"The result of this poll shows that the United States needs to display a similar level of confidence in its development of new deep water technologies if the sector is to grow at the pace it deserves.

“The US is widely recognised as a pioneer of deep water innovation, and an industry thought leader in this field. There’s no doubt that, with the right level of investment, the country can continue to hold this reputation.”

GL Noble Denton has conducted three Industry Snapshot Polls this week, one for each full day of OTC. Delegates were also asked to vote at GL Noble Denton’s booth (2241-K) on whether gas will replace oil as America’s primary energy source by 2030, and if oil and gas operators should always be liable for exploration and production risks.

All participants have been entered into a prize draw to win a new iPad after the show.

The results of the polls are available from: www.gl-nobledenton.com