There has been quite a bit of bad news in the oil patch lately. But in the midst of the gloom and doom comes one of the world’s largest oil and gas exhibitions, drawing in people by the thousands to explore the latest offshore technology.

OTC Chairman Ed Stokes and Vice Chairman Joe Fowler are as bullish on this year’s show as they were last year despite the low commodity prices. Stokes is particularly excited about the technical program as well as the new addition to the lineup, “d5.” “This is the first time we have moved into a Friday with OTC, thus day five or ‘d5,’” he said. “We are bringing in experts from outside the oil and gas industry who will expose our attendees to disruptive technologies from other industries, help them build unique connections and develop innovative solutions that can be applied to their business areas.”

For Fowler, one of the best aspects about OTC is the networking. “OTC is a great gathering that appeals to the scientific and technical, business and personal sides of attendees,” he said. “It is a chance to see and hear the latest technology in the papers and exhibits; to see what oil companies, suppliers and service companies are doing new; and to renew acquaintances with old friends and make new ones.”

Several other special events are planned for the conference. In addition to the technical papers and posters, there are 26 topical breakfasts and luncheons, an annual dinner Sunday night that recognizes the Distinguished Achievement Award winners and supports a charity (this year’s charities are the Independent Association of America and the Petroleum Equipment & Services Association’s Energy Education Center), and a special luncheon honoring the “pioneers” who helped found OTC 46 years ago.

This is Stokes’ final year as chairman, and he has great memories. “I have had the honor of being chairman of this large and committed organization,” he said. “It has been this commitment from everyone that has allowed us to expand to four global conferences and continuously improve our technical program year on year.

“I’ve been fortunate enough to attend all of the conferences and was able to open the inaugural OTC Asia in 2014 with the CEO of Petronas, our corporate sponsor, and the prime minister of Malaysia. That was a great experience for me.”

Fowler, who will become chairman at the end of the year, is excited about carrying on the tradition. “I’m looking forward to continuing this success, which is due to the ability of 12 separate technical societies and three trade organizations to set aside their own aspirations for the greater good of bringing offshore technology and increased safety knowledge to everyone working in the industry,” he said. “Cooperation is the key to our success, and I intend for that cooperation to continue.”

The downturn is of concern, but this isn’t OTC’s first rodeo. “I expect that the reduction in the oil price will impact attendance,” Stokes said. “There could also be some impact on exhibitors, but we have a backlog of companies wanting to participate. This isn’t the first time in OTC’s 46-year history to experience a pullback in the oil price, and we’ve survived them all and continue to grow.

“OTC has the right motivators in place to continue to be successful,” he added. “We represent the people in the industry, and our objective is to serve our members and the people in our industry. That’s why OTC has become the largest and most successful conference of its type in the world.”