PIDX extends UN classification to oilfield

The American Petroleum Institute has released a new UNSPSC taxonomy for oilfield services.

The American Petroleum Institute’s (API) Services Classification Task Force has just released proposed revisions to the United Nations Standard Products and Services Code (UNSPSC) Segment 71- Mining and Oil and Gas Services. UNSPSC provides an open, global multi-sector standard for classification of products and services. The new commodity classifications are expected to be approved and added to the UNSPSC code in early 2005.

Oilfield services

The codes cover a range of oil and gas exploration services including logging, seismics, drilling, well testing and interpretation services. The existing UNSPC codes are available in SAP’s NetWeaver web services environment which leverages UDDI for discovery and pre-loading of taxonomies.

OFS Portal

Take-up of standards like the UNSPSC has been relatively limited. A couple of years ago, only 20% of US companies used the UNSPSC system, which had little or no penetration in Europe. But the API initiative, which has backing from Trade Ranger and OFS Portal may change this by adding sufficient granularity to the UNSPSC codes to support e-business.

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