Standardized parts bringing down production cost of crude oil

deflation into oil consumers countries.
support of growth
turning oil producers and explorers more resilient.


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Nergaard Berg estimates that standardization of sub-sea forgings alone—the massive steel spools used in deepwater drilling—has resulted in a 30 percent reduction in project lead times. Christie, of GE Oil & Gas, also reckons that standardization can lower drilling expenses by an average of 30 percent.