Around 70% of the world’s remaining oil reserves are classed as “heavy oil,” NEL says, adding that established flow measurement methods are prone to error and uncertainty.
This could be costing the industry around $56 million per year per meter*, the company claims.
The new flow measurement method allows Reynolds numbers to be tracked in real-time using a differential pressure flow meter.
Development was supported by the UK’s National Measurement System. The method is said to have demonstrated more accurate flow measurement results than traditional differential pressure flow meters.
*NEL claims 8-in. Venturi tests involving oil flow, mis-measurement errors incur costs of around $16 million per year at a Reynolds number of 1,000 for a fluid of 200 cSt and $56 million for a fluid of 600 cSt (assuming an oil prices of $40/bbl and a discharge coefficient of 0.995).