For the second year in a row, the International Energy Group Burisma partnered with the OTC’s flagship conference held annually in Houston (Texas) at NRG Park covering over 706,000 square feet of contiguous single-level exhibit space. On April 30 – May 3, the 49th edition of the conference brought together more than 2,300 exhibitors and attendees representing 100 countries. 2018 OTC featured nearly 350 technical papers, 44 technical sessions and 13 panels.
Founded in 1969, OTC is the largest event in the world for the oil and gas industry that directly benefits the advancement of the energy sector. Today, OTC unites more than 70,000 energy professionals worldwide. This year, 100 of the most iconic people from global oil & gas market attended the conference.
“In 2018, the organizers held 2 more conferences for dozens of professional societies and associations. World’s leading experts introduced a program facilitating an exchange of experiences between participants and attendees that offers latest information on technology solutions. We at Burisma Group are happy to follow suit and share our expertise with the global community”, says Member of the Board of Directors at Burisma Group and Head of the Group’s delegation to 2018 OTC Karina Zlochevska.
At 2018 OTC, Ukraine had a special panel organized by the U.S. Commercial Service in partnership with Burisma Group. It gathered more than 80 experts, investors and representatives of oil & gas and service companies looking into investment opportunities of natural gas production in Central and Eastern Europe. From the side of Ukraine were Myroslava Myrzalo (energy specialist of the US Embassy in Ukraine), Karina Zlochevska (Member of the Board of Directors at Burisma Group) and Sergey Glazunov (CEO of Smart Energy).
In her presentation titled “Private gas production as key to ensuring national energy security” Karina Zlochevska focused on the need to increase domestic gas production in the country.
“Ukraine has done a tremendous job in the oil & gas industry to attract investors. In particular, the rent for gas production was reduced to 12% for horizons up to 5 km and 6% for horizons over 5 km. In 2017, the number of drilled wells increased by one third. With 0.5% of world reserves, Ukraine is the second country in Europe in terms of gas reserves, but only the fifth in terms of gas production. Our country still has a long way to go and so much remains to be done in order to improve the investment climate”, adds Karina Zlochevska.
The attendees were interested in issues, including the access to the Ukrainian market for service companies, the effects of devaluation on payment for services, specifics of the environmental legislation, technical requirements for U.S. equipment vs European and Chinese equipment and operational safety in the East of Ukraine, among many others.
This year, the conference attracted more than 100 000 people, a record number in the OTC history, including top managers of global oil & gas companies, engineers, traders and businesspeople. OTC is one of the most important annual events in the US and one of the top 10 most visited business events in North America. More than 300 journalists from all over the world covered 2018 OTC.