Measurement of Quantity. The volume will be calculated as Net Standard Volume (NSV) and it shall be construed as the total volume of all the petroleum liquids, excluding sediment and water (BSW) at a standard temperature of 60º F. The measurement can be made with static or dynamic measurement, applying the methods described in the MMH, as this manual is defined in the General Conditions. The volume on which the crude oil delivered by THE SELLER at the entry flange of the Plant at Tumaco will be figured out will be the volume resulting after the application of the volumetric compensation and sent by CENIT or whoever takes its place. For the crude oils delivered in the D▇▇▇ Station and destined to Coveñas, Orito Station for crude oil exported through Ecuador, and Vasconia Station for crude oil destined to be refined, will be made at the entry flange of the respective Station.
Appears in 2 contracts
Sources: Agreement for the Sale and Purchase of Commodities (Crude Oil) (Gran Tierra Energy Inc.), Agreement for the Sale and Purchase of Commodities (Crude Oil) (Gran Tierra Energy Inc.)