Patent · US Active

Lifting partner groups for allocation of lifted product consistent with production sharing contracts

US8429044B2 · kind B2 · utility

0Cited by

6References

27Claims

0Family size

Assignee

SAP AG · DE

Inventors

Justin Chen · New York, US
Timothy Crossett · Östringen, DE
Armin Risch · Union City, US

Key dates

Filing date	Sep 9, 2004
Grant date	Apr 23, 2013
Priority date	—
Expiry date	Feb 16, 2033

Classification

Technology area (CPC G)Physics
CPC primaryG06Q40/00
WIPO fieldIT methods for management
WIPO sectorElectrical engineering

Abstract

An embodiment of the invention regards allocating lifted product volumes to specific entities of a Production Sharing Contract (PSC) through the use of Lifting Partner Groups (LPG) and an Entitlement Percentage (EP), which is itself calculated, consistent with the terms of the PSC. Through this system, specific PSC members no longer need to be identified for each specific terminal lift to allocate the lift back to the PSC entity. Rather, the EP is used in conjunction with the Lifting Product Groups to split up the portion of each lift attributable to each entity for actual accounting purposes, and further to determine the average sales price(s) to be used in calculating total production revenue.

Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.