This year's Offshore Technology Conference in Houston has been postponed to the third quarter.

This year’s Offshore Technology Conference (OTC) in Houston, Texas, has been postponed to the third quarter, the event’s organizers have announced.

“The Offshore Technology Conference recognizes the unprecedented global challenge associated with the current COVID-19 pandemic. The health and safety of our partners, attendees, exhibitors, staff, and community are of the utmost importance, and our hearts go out to all who have been affected,” OTC organizers said in a statement sent to Rigzone.

“Considering the rapidly changing guidance from governments and companies, OTC has chosen to postpone the conference from 4–7 May to the third quarter 2020. We are actively working to confirm dates in August or September,” the organizers added.

“By postponing rather than canceling OTC, we aim to preserve the significant work of the program committee and authors to prepare for this conference, as well as minimize the economic impact this decision has on businesses in Houston and throughout the industry,” the organizers continued.

According to the statement, OTC will be communicating with speakers and exhibitors to develop new plans “in the coming weeks”.

OTC was scheduled to go ahead as of March 6, despite the outbreak of the coronavirus in the United States. Several oil and gas related events have already been canceled due to the virus, including the CERAWeek conference in Houston.

In 2019, more than 59,000 people from 111 countries attended OTC, which is said to have made a $3 billion economic impact in Houston since its first show in 1969.

OTC is the world’s foremost event where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge for offshore resources and environmental matters, according to the event’s website.

The conference ranks among the largest 200 trade shows held annually in the U.S. and is among the 10 largest meetings in terms of attendance, OTC’s website highlights.

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