A pump feeds the oil directly, or via a progressive distributor to a mixing block that is connected to the compressed air supply system. In the mixing block, oil and compressed air are metered and distributed to several oil-air lines. Inside the oil-air lines, under the influence of the compressed air, a continuous oil film is gradually formed from the impulse-fed oil. This film moves in streaks along the inner surface of the oil-air line to the point of friction or seal. There, the oil is detached from the pipe inner wall or feed passage by the air pressure. The friction points are lubricated, cooled by the compressed air and at the same time, entry of contaminants into the bearing or seal is prevented. The oil-air mixture is capable of penetrating the air vortex formed around the bearing by the centrifugal force at the high RPM involved.