Houston on Thursday was named host of the 2020 World Petroleum Congress that attracted thousands of global energy delegates each year.

Houston, which lost two previous attempts to host the event held every three years, was selected over Vancouver. WPC delegates meeting in Bahrain picked Houston with more than 70 percent of the vote.

The city of Houston said the event could bring an estimated economic impact of $60 million to $80 million and draw 10,000 top-level international oil executives. In its last two bids, Houston lost to Moscow and Istanbul, which will host in July 2017. Houston last hosted the event in 1987.

“We spent six years building relationships with WPC delegates and it paid off,” Houston Mayor Sylvester Turner said in the announcement. “Houston is the epicenter of energy on the global scale and this is where the new technologies are being developed.”

Turner and members of the U.S. WPC Bid Committee traveled to Bahrain to make the final pitch on Houston's behalf and to witness Thursday's vote by WPC delegates.