One of the world's largest conferences and exhibitions dedicated to the offshore energy industry will be postponed next year due to the ongoing COVID-19 pandemic.

The Offshore Technology Conference, which attracts tens of thousands of visitors to Houston annually, will be postponed from May 3-6 to August 16-19, the event's board of directors announced Monday, citing continued challenges and health and safety concerns presented by the pandemic.

"By postponing OTC to the second half of 2021, we aim to preserve the significant work of the program committee and authors, as well as minimize the economic impact this decision has on businesses in Houston and throughout the industry," organizers said amid rising coronavirus cases in the U.S.

The long-running conference has been held annually in Houston each May since 1969. At its peak in 2014, OTC drew more than 100,000 attendees from more than 100 countries.

The 2020 event was postponed and later canceled due to coronavirus challenges and concerns.