OT05890 - PRT: terminal liftings - volume of oil to be used in determining “A� (Regulation 3)
The figure to be used will be the volume of the blend actually lifted by the participator on a particular day unless the following circumstances apply:
- The sales contract under which the lifting occurs allows for the purchaser to nominate the volumes (within the loading tolerances) to be lifted.
- The facility lifting agreement allows for a different basis of allocation to fields to apply to (i) the volumes nominated by the purchaser, and (ii) any ‘balancing parcel� - see below
- The volume nominated by the purchaser is allocated differently than the balancing parcel.
In which case ‘volume of oil� in ‘A� will be the volume nominated for lifting by the purchaser, not the actual lifted volume.
Note that the use of this alternative definition of “A� is not at the discretion of the production company; it will depend upon the contractual terms and the lifting agreements with the facility and / or shipping programme operator.