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What do you mean by material balance equation?

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What do you mean by material balance equation?

(a) Original-Solids-in-place (OSIP)

(b) Original-Gas-in-place (OGIP)

(c) Original-Air-in-place (OAIP)

(d) Original-Liquid-in-place (OLIP)

The question was asked in an interview for internship.

Question is from Material Balance Numericals in portion Material Balance of Bioprocess Engineering

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Correct answer is (d) Original-Liquid-in-place (OLIP)

Explanation: Material balance analysis is an interpretation method used to determine original fluids-in-place (OFIP) based on production and static pressure data. The general material balance equation relates the original oil, gas, and water in the reservoir to production volumes and current pressure conditions / fluid properties.

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