Condensate recovery factor is characteristic of the degree of recovering gas condensate from gas condensate and oil/gas condensate fields. There is a difference between current condensate recovery factor (defined for a certain point of time) and final condensate recovery factor (defined as of the moment of termination of commercial development of the field).

Condensate recovery factor is measured as a ratio between the amount of produced condensate to its in-place reserves in the deposit as calculated during the exploration phase (in unit fractions or in per cent). This ratio is used to define the recoverable reserves of condensate. Besides, it is taken into account during preparation of the respective field development program and indicates the efficiency of the recovery methods. In certain cases the recovery ratio defines the feasibility of the field development.