Oil production increased in all of the productive South American countries, as well as Trinidad and Cuba, except Colombia, which recorded a very slight decline. 1955 production totaled 911,237,125 barrels, an increase of 101,486,827 barrels (12½ per cent) over 1954. Greatest increases were in Venezuela, Trinidad, Brazil, and Bolivia. Possibly the most significant new discovery was finding oil in the Nova Olinda wildcat, testing the middle Amazon Valley of northern Brazil. Over-all exploratory effort continued at about the same level as indicated by the number of exploratory wells, totaling 635 in 1955 as compared with 639 in 1954. Development wells increased from 1,215 in 1954 to 1,656 in 1955. The passage of new petroleum legislation favorable to private and foreign oil exploration has been responsible for increased activity in Guatemala and Bolivia. In Venezuela a great deal of importance is attached to the Government's indications that it will soon open new lands for oil and gas concessions. Exploration for oil and gas in Cuba continues at a high pitch although no very significant discoveries were made in 1955. Strong nationalistic policies in development of new oil and gas reserves continued in Brazil, Chile, and Argentina.