The writer presents a revision of his papers of 1947 and 1948 so as to bring to date oil and gas developments in the U.S.S.R. and to correct and enlarge reserves estimates of land areas to 210 billion barrels, and add for offshore, principally inland sea areas 39.7 billion barrels; this compares with an earlier estimate of 150 billion barrels. The Soviet Union to the end of 1961 had extracted only 7 per cent (13.8 billion barrels) of its land reserve oil possibilities, and had developed proved oil reserves on 23.5 billion barrels, and 70.6 billion cubic feet of gas. Hence, to prove up and develop its vast reserves and deeper possibilities the expenditure by the Russian Government of vast sums of money is necessary.

The ultimate reserves of land areas of the United States, we now place at 125 billion barrels of which 67.8 billion barrels have been produced; of offshore areas, mostly continental shelf, the United States has 26.3 billion barrels, production of which has barely begun. The proved United States oil reserves were 36 billion barrels at the end of 1961. L. G. Weeks places the total of United States ultimate reserves at 270 billion barrels.

The second Baku (Bashkiria-Tatara-Pechora) area has been much more fully developed, and the importance of the Turkmenistan-Uzbekistan province as a major district has been proved; lists and maps of their more important fields and prospects are given. A revised map of Russian oil and gas provinces is also provided. The offshore development in the Caspian has opened three of such inland-sea offshore fields.