Cyprus is among the three countries chosen to present, during the Offshore Technology Conference (OTC) which begins Monday in Houston, Texas, the opportunities they offer in offshore oil extraction and natural gas.

For this reason, the Director of Energy at the Ministry of Commerce, Industry and Tourism, Solon Kassinis and the Director General of the Electricity Authority of Cyprus, Stelios Stylianos, have traveled to Houston to introduce the prospects that Cyprus has.

The Offshore Technology Conference (OTC) is the world’s foremost event for the development of offshore resources in the fields of drilling, exploration, production, and environmental protection. OTC is held annually at Reliant Center in Houston.

Each year, OTC attracts more than 65,000 attendees and 2,000 exhibiting companies representing more than 110 countries.

This year’s exhibition will be the largest conference in 29 years and will offer the latest tools and services from more than 2,500 companies across three distinct areas, Reliant Center, Reliant Arena, and the newly expanded outdoor area, the OTC Parkway.

OTC offers panel sessions where industry leaders discuss current challenges and future directions, special presentations at industry breakfasts and topical lunches, and approximately 300 technical presentations.

OTC 2011 will present solutions for a wide range of topics such as major project updates, management, and health, safety, and environment.

Particular emphasis will be laid on impact to oil and gas developments in the deepwater Gulf of Mexico following the Macondo oil spill. In the post-spill regime, there is a new era of government regulation and oversight, as well as evolving impacts. Several panels of experts and high-level government officials will address issues related to risk, drilling safety, energy development, and spill response for future oil and gas developments.

Cyprus’ industry breakfast, organized by OTC and the US department of Commerce, will offer expert views on doing business in emerging areas of interest for the oil and gas industry. This event will provide a forum for Cyprus government officials to highlight their nation’s oil and gas policy and promote trade and investment opportunities in Cyprus’ oil and gas sector. In addition, US industry executives will give an overview of company experience doing business in Cyprus.

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