Gulf Oil and Gas accountACCOUNT

Custody Transfer Flow Metering

Source: www.gulfoilandgas.com 11/11/2015, Location: Europe

A recent webinar on custody transfer, supported by the UKís National Measurement System, demonstrated the challenges and ongoing technological developments to improve the accuracy of the single phase measurement systems used to support the transfer of hydrocarbon ownership from one company to another.

For oil & gas operators, flow meters are their cash registers- they tell them how much money they are making from the hydrocarbons produced. It is essential that these meters are as accurate as possible as a mis-measurement of the order of 0.1 per cent can cost an operator many millions of dollars over a relatively short period of time.

UK national legislation requires uncertainties of 0.25 per cent for liquid and 1 per cent for gas, as set out in the Oil & Gas Authorityís Guidance Notes for Petroleum Measurement. But with the development of measurement technologies and the advancement in electronics and computing power, industry should be constantly striving to reduce measurement uncertainty wherever possible. This is particularly pertinent in the oil & gas industry where the combined value of oil and gas metered globally on a daily basis totals $17 billion. Any improvements, be they evolutionary or revolutionary, will have a huge impact on reducing financial exposure because of the vast quantities involved.

Flowmeters >>

Flowmeters News in United Kingdom >>

United Kingdom >>  8/3/2020 - Independent Oil and Gas plc ("IOG"), (IOG.L) is pleased to announce that it has awarded the Engineering, Procurement, Construction and Installation (E...
Cyprus >>  7/31/2020 - Hill International, the global leader in managing construction risk, was selected by the Natural Gas Infrastructure Company of Cyprus (ETYFA) to lead...

Norway >>  7/17/2020 - Aker Solutions is launching a series of structural and strategic changes to transform the company and enhance shareholder value by spinning off the wi...

Related Categories: General  Magnetic Flowmeter  Mass Flowmeter  Open Channel Ultrasonic Flowmeter  Orifice Plate Flowmeter  Turbine Flowmeter  Ultrasonic Flowmeter  Variable Area Flowmeter  Venturi Tube  Water Meter 

Related Articles: General  Magnetic Flowmeter  Mass Flowmeter  Turbine Flowmeter  Ultrasonic Flowmeter  Variable Area Flowmeter  Water Meter 


United Kingdom Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.