The oil and gas industry has been inefficient in delivering projects because many companies customise their requirements, down to the simplest valve, according to a new report from classification organisation DNV.
Graham Henley, CEO of the International Association of Oil & Gas Producers (IOGP), quoted in DNV’s , said, “Everyone buys a tailored suit instead of one off the rack. Standardisation, for example using IOGP’s JIP33 procurement specifications, can significantly reduce costs and delivery times, not just in oil and gas projects, but also in renewable electricity and biofuels.”
Elsewhere the report, drawing on responses from 1,160 senior professionals, calls for greater policy support and more investment to scale new technologies.
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