Tuesday at OTC saw a busy day for Kelvin TOP-SET at Booth #2063.
Day 2 -At Booth #2063
Harry, Ian and Bruce who were manning the booth on day 2 of the show were kept busy with a lot of interest shown in Kelvin TOP-SET courses. Interestingly, there were also many visitors to the booth who expressed that their companies currently had no investigation system in place, and that they were therefore interested in how implementing the TOP-SET system could help them to increase profitability and reduce incident rates.
Day 2 – Opening of the Malaysian Pavilion
David Ramsay, MD & President of Kelvin TOP-SET and Karen Hatler, Technical Support Manager attended a presentation by Muhammad Zamri Jusoh, VP, Malaysia Petroleum Management, Petronas, to mark the opening of the Malaysia Pavilion at OTC. Kelvin TOP-SET runs regular courses in Kuala Lumpur for clients such as Petronas so it was good to support the Malaysian companies at OTC and to learn more about current trends in the area. The next scheduled open courses in Kuala Lumpur are a 3-Day Senior Investigator course on May 17th – May 19th and another on July 26th – July 28th. For more information or to book go to www.kelvintopset.com/courses/dates
Day 2 – General Observations
As expected, day 2 at OTC saw many more people come through the doors compared to day 1, however it was noted that the perceived volume of visitors was not as high as OTC 2015. This would seem to be due to the fall in global oil prices and the general mood in the oil and gas industry.
Senior management of one major oilfield service company, were concerned that the recently announced collapse of the Halliburton/Baker Hughes merger, would reduce the appetite for future potential M & A’s, due to the billions of dollars in penalties which will have to be paid to the latter company, thus slowing consolidation in the industry.
Many of the exhibiting companies at OTC, that our team spoke with were, in general, down-beat about their near and medium term prospects, due to the continuing uncertainty over the oil price. A few spokesmen believed that the price may still slip back to around the $30 mark. Our team were also told that some companies are “following the money” – only bidding for high value available projects, in the hundred of millions, and ignoring those in the tens of millions, as the latter will attract many smaller competitors, who may force prices to non-profit making levels.
We are looking forward to Day 3 of OTC