This paper presents valuable insights on implementation of requirement management system in the oil and gas industry. The focus on cost reduction in this industry has led to an urgent need for a more systematic requirement handling. The paper presents a survey asking international oil and gas actors for status and needs with respect to requirement management. Furthermore, the paper presents experiences from implementing a Requirement Management System at a major supplier in the industry. The international survey confirms that the oil and gas industry is lagging behind other industries when it comes to implementation of systematic requirement handling. A second result is that the paper shows a clear positive effect when implementing a requirement management system at a single supplier. In conclusion, by implementing such a system, the industry will limit the number of requirement, save cost, and reduce the need for testing and validation. To achieve this, companies will need management support and collaboration across the supply chain. A cross‐industry implementation would result in a significant effect, both in terms of reduced cost and increased flexibility.

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