This paper discusses how international ISO standards can enable reliable, safe and cost-effective technology development, project execution, and operational excellence in the oil and gas industry. It highlights several key ISO standards, including ISO 14224 for collection and exchange of reliability and maintenance data; ISO 20815 for production assurance and reliability management; and ISO 19008 for a standard cost coding system for gas production and processing facilities. The paper provides examples of how companies have applied these standards to technology development, project development, and oil and gas field operations. It also addresses how the standards relate to digitalization and how reliability communication between oil companies and suppliers can benefit from ISO 14224.