Definition:
Net Standard Volume
Subject Area 1:
Reservoir Engineering & Reservoir Management
Remarks:
Net Standard Volume (NSV): The total volume of all petroleum liquids, excluding sediment and water and free water, corrected by the appropriate volume correction factor (Ctl) for the observed temperature and API Gravity, relative density, or density to a standard temperature such as 60°F or 15°C and also corrected by the applicable pressure correction factor (Cpl) and meter factor.