JIP33 
    Standardisation of  
    equipment 
    specifications for 
    procurement
    Slide package for general use
    12 July 2017
  Project context, objective and vision
   Context                 Objective                   Vision
   Between 2010-           The CPC initiative          The vision for the industry is to 
   2014, 75% of            seeks to drive a            standardise specifications for 
   large E&P               structural reduction        procurement for equipment and 
   projects                in upstream project         packages, facilitating improved 
   exceeded                costs with a focus on       standardisation of major projects 
   budget by 50%           industry-wide, non-         across the globe.
   on average, and         competitive 
   50% of projects         collaboration and 
   exceeded                standardisation.
   schedule by 
   almost 40%.
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   Value potential
            Preliminary estimates indicate…
                       • Improved safety.
                       • Potential cost reductions of 10-20% of 
                        CAPEXspending on equipment.
                       • Up to 40% schedule compression for 
                        standardised asset classes.
                       • Improved equipment quality and reliability 
                        hence lower lifecycle costs.
            These estimates are being further assessed with vendors and 
            companies as part of the proof-of-concept consolidation.
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   IOGP JIP33 Standardisation of equipment 
   specifications for procurement
   JIP33 Support by
   JIP33 Phase 1 Funding members
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