Talk about feeling energised. As I fly back to New York from Houston, blogging about my time there is a good way to reflect on what I’ve just witnessed. Offshore Technology Conference is the largest energy conference on the planet with over 90,000 delegates. This is Texas after all: ‘big’ takes on a whole new meaning here.
I was ready to be impressed with the British representation at the conference. Houston is the UK’s third largest US gateway for international trade, and Texas imports more from Britain than any other state. What I saw was beyond impressive. The UK, internationally recognised as a global leader in offshore products and services, has the largest international representation at this year’s OTC with 350 companies, universities and industry organisations.
Yesterday evening, we at UK Trade & Investment, in partnership with BP America, hosted a reception celebrating UK energy excellence. This is the 13th year we have hosted this event and my team were confident it would be well attended. They were right to be confident – 800 people showed up! Hundreds of British companies who are leaders in their field and hundreds of US investors who see the UK as an exciting investment destination.
As I spoke to companies on both sides of the Atlantic it became clear that they recognise the UK Government’s commitment to the oil and gas industry. The Energy Bill published last November will deliver a dramatic change in how we invest in energy generation and our new Oil & Gas Industrial Strategy will increase investment certainty for offshore producers. Many there wanted to talk about our recently launched Patent Box, which offers a preferential tax treatment for profits derived from patents. In short, the UK stands for innovation and excellence and that is exactly what OTC is showcasing.
As I walked the floor of the trade show this morning I saw British companies thriving. Advanced Sensors make world-class oil-in-water analysers and after a day and a half they are on course for their best OTC yet. Every company I spoke to said the same; they also thanked us at UKTI for our support and help, which is wonderful to hear.
And that’s how I’d like to end this blog, by thanking our team. From our Consul General, Andrew Millar, to the entire UKTI team in Houston, they have all been working tirelessly for weeks to support hundreds of companies on both sides of the pond. Thanks guys, you brought a whole new level of energy to an energy conference. No small feat!