otc 2024

Annual offshore conference in Houston names honorees for leadership, sustainable efforts

The three award honorees for OTC 2024 have been named and will be honored on May 5. Photo via otcnet.org

The 2024 Offshore Technology Conference has revealed the three Distinguished Achievement Award recipients that will be recognized at the conference next month.

OTC, a conference that has served the offshore energy community for over 50 years, will bring 276,000 square feet of exhibit space to NRG Park and welcome over 31,000 attendees for more than 350 sessions. The awards reception will kick off the week on May 5.

One of the awards recipients named is Kerry J. Campbell, who will accept the OTC Distinguished Achievement Award for Individuals. Campbell was selected based on his "work in developing modern deepwater site characterization practice and for teaching and mentoring generations of site characterization professionals," reads the news release.

He's previously co-chaired sessions at OTC and served on a subcommittee for the organization, in addition to co-writing seventeen OTC papers. He retired from Fugro in 2020 after helping integrate 3D marine seismic data for engineering applications.

Petrobras will accept the OTC Distinguished Achievement Award for Companies, Organizations, and Institutions at the May banquet. The company was selected "for the deployment of a wide set of new technologies for the successful revitalization of the Marlim Field and the entire deepwater Campos Basin, unlocking new paths for mature deepwater asset redevelopment, with significant reduction in greenhouse gas emissions," per the release.

For about 50 years, the Campos Basin has been subjected to exploration and is known for various shallow water discoveries. In 1992, Petrobras was recognized for its deepwater development in Marlim, and over 30 years later, the company will be praised for its work redeveloping mature fields and the pioneering subsea, drilling, reservoir and decommissioning technologies.

The third and final award recipient is EnerGeo Alliance, which will receive the OTC Special Citation award for promoting efficiency and environmental sustainability within offshore seismic data collection.

"For more than 50 years, EnerGeo Alliance has been a stalwart in the quest for accessible, affordable energy around the globe, while also being a standard-bearer for safety and the environment," reads the release. "EneGeo Alliance has set the standard in the energy geoscience industry by establishing best practices and recommended guidance in key energy areas, including its Environmental Impact Assessment Handbook and Greenhouse Gas Emissions Guidance, for its members."

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A View From HETI

Houston American Energy Corp. has acquired Abundia Global Impact Group, which converts plastic and certified biomass waste into high-quality renewable fuels. Photo via Getty Images.

Renewable energy company Houston American Energy Corp. (NYSE: HUSA) has acquired Abundia Global Impact Group, according to a news release.

Houston American reports that the acquisition will allow it to create a combined company focused on converting waste plastics into high-value, drop-in, low-carbon fuels and chemical products. It plans to move forward with Abundia’s plans for developing large-scale recycling projects, with a new facility previously announced for the Gulf Coast, located in Cedar Port Industrial Park, near the Baytown area of Houston.

New York-based Abundia used its proprietary pyrolysis process to convert plastic and certified biomass waste into high-quality renewable fuels. Its founder, Ed Gillespie, will serve as CEO of the combined company and will join HUSA’s board of directors. Peter Longo, who previously served as HUSA's CEO, will serve as chairman of the board. Lucie Harwood was named CFO and Joseph Gasik will serve as COO.

“The completion of this acquisition represents a pivotal transformation for HUSA,” Longo said in a news release. “Abundia has a commercially ready solution for converting waste into valuable fuels and chemicals, with a backlog of development opportunities utilizing proprietary technologies and key industry partnerships. This transaction gives HUSA shareholders a ready-made platform and project pipeline for future value generation as the fuel and chemical industries accelerate their adoption of low-carbon solutions and sustainable aviation fuel.”

The combined company plans to serve what it estimates is a multi-billion-dollar global demand for renewable fuels, Sustainable Aviation Fuel (SAF) and recycled chemical feedstocks, according to the news release.

“This is a landmark moment for Abundia and a major step forward for the renewable industry,” Gillespie added in the release. “Joining forces with HUSA and entering the public capital markets positions us to accelerate growth, scale our technology and expand our influence within the renewable and recycling industries. I am proud of the hard work and determination of both the AGIG and HUSA teams to finalize this transaction. We look forward to delivering shareholder value and critical technologies to reduce carbon emissions.”

Houston American Energy announced the deal in March. The company also closed a $4.42 million registered direct offering in January.

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