Definition:
Vessel Experience Factor
Subject Area 1:
Drilling & Operations
Remarks:
Vessel Experience Factor (VEF): A factor based on the compilation of the history of the total calculated volume (TCV) vessel measurements, adjusted for on-board quantity (OBQ) or remaining on board (ROB), compared with the TCV shore measurements. This factor if developed according to the latest industry standards may be used to obtain a better ship shore comparison of volumes.