CHARTERING

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   W
W (Whiskey) I require medical assistance
Water Drive
An important task to maintain pressure in the reservoir.
Water Separation Plant see Dehydration Plant.
Wax             
Paraffin wax which may cause production problems if condensed in production pipelines or in the valves.
WCSA West Coast South America
Well-Head  
Heavy and strong construction installed on the surface string or conductor pipe as foundation for further pressure regulating equipment.
WFTU World Federation of Trade Unions
Wildcatting Speculative well drilling.
Workover Programme for actions to increase/stimulate production from a well.
Worldscale In the tanker segment of shipping, nearly all trip-chartering is done on the basis of the freight-rate system Worldscale (W), which is a method of calculation of payment for the transport of oil by ships, for a single or several consecutive voyages. Worldscale is a table giving the amount of dollars per ton oil for each of a number of standard routes. The rates listed in the table - the socalled flat rates - are termed Worldscale 100 (W100). Large tankers need a lower W than smaller vessels to make a profit. The flat rate is the rate per ton which gives a standard vessel (at present a 75,000 dwt. tanker) earnings of USD 12,000 per day on a T/C-basis for the stipulated voyage. If the flat rate is USD 10.- per metric ton, the rate level at W50 will be 50 per cent of the base rate at W100, i.e. USD 5.00 per ton. The flat rate W100 should make a profit for the "standard vessel", regardless of the voyage for which the ship is chartered. Worldscale is revised annually, and the calculations include both fixed and variable expenses. The purpose of the Worldscale is to enable both owner and charterer to compare easily the returns on alternative voyages.
WPC World Petroleum Congress
WTO World Trade Organization
WTSV
Well Testing and Service Vessel
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