Oxygen Delivery and Oxygen Consumption Oxygen Delivery. • Oxygen delivery is a function of arterial oxygen content (Cao2) and cardiac output. Cao2 is expressed as the number of milliliters of oxygen contained in 100 ml of blood and is calculated as follows: Cao2 = (Hgb × 1.34 × Sao2) + (0.003 × Pao2) DO2 = CO × Cao2 Oxygen Consumption. • O2 consumption = CO x (CaO2-CvO2) Oxygen extraction Ratio ER= O2 consumption / O2 delivery ER= [ CO x (CaO2-CvO2)] / CO x CaO2 = CaO2 – CvO2/CaO2