OTC Asia to be launched in 2014 in Kuala Lumpur
Offshore Technology Conference (OTC) Asia will kick off 10-12 March 2014 in Kuala Lumpur, Malaysia, and will be a biennial event going forward. To be located in prominent cities through the region, OTC Asia will be created under the same brand as the flagship OTC in Houston. The technical program will be developed with the 13 sponsoring organizations and will focus on offshore resource development, with an emphasis on subsea and above-surface facility issues.
A Malaysian Task Force has been established, including representatives from PETRONAS; government agencies, the Malaysia Petroleum Resources Corp (MPRC), Malaysia External Trade Development Corp (MATRADE), the Malaysia Investment Development Authority (MIDA); and trade association, Malaysian Oil & Gas Services Council (MOGSC).
“Asia is an increasingly important part of the world for oil and gas exploration and development,” said Dato’ Wee Yiaw Hin, executive vice president, exploration & production business, PETRONAS. “A conference like OTC will provide a platform for regional and international industry professionals to exchange their knowledge, technology and expertise, and will help the energy sector reach its offshore potential.”
Forecasts show the region’s expected recovery in offshore activity will continue to significantly drive up demand for fixed, floating and subsea units in the short term. Projects offshore Malaysia are forecasted to see the largest increase between forecast periods, with over US$17 billion forecasted over the next five years.
Dr Emir Mavani, president and CEO of MPRC, said, “The rapid economic growth in the Asia Pacific is driving demand for oil and gas. For Malaysia, we are confident opportunities in the oil and gas sector, such as upstream, downstream and services, will spur more investments into this industry. MPRC is pleased to see the inaugural OTC Asia happening in Malaysia. The seamless synergy between PETRONAS, MIDA, MATRADE and MOGSC will give the exhibitors and conference participants a fruitful and productive event at OTC Asia.”
For more information about OTC Asia, click here.
