Complex sentence: In 1996, the Board of Directors commissioned a study of the benefits of using the SIP specifications, which projected savings of from 1 to 3 USD per barrel of oil gained through improvements in data quality, data accessibility, and exploitation of information and knowledge.
Split into simpler sentences: In 1996, there was a study of the benefits of using the specifications that was commissioned by the Board of Directors. The study projected savings of from 1 to 3 USD per barrel of oil through improvements in data quality, data accessibility, and exploitation of information and knowledge.