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AAPG Bulletin

Abstract


Volume: 44 (1960)

Issue: 7. (July)

First Page: 1014

Last Page: 1057

Title: Petroleum Developments in South America and Caribbean Area in 1959

Author(s): E. W. Clark (2)

Abstract:

Exploration and production activities in 1959 were stimulated in Argentina and Brazil, in a politically inspired effort to achieve self-sufficiency in petroleum, but were depressed in Venezuela, which sells the bulk of its production in competition with other major producing areas of the world.

In South America as a whole, crude oil production in 1959 was 3,244,900 b/d, only fractionally higher than in 1957. There were appreciable increases, as compared with 1957, in Argentina, Brazil, Colombia and Trinidad, totalling 113,100 b/d, this was offset by a decrease of 69,000 b/d in Venezuelan production.

Exploration activities were maintained at a high level in Brazil, Argentina, Bolivia, and Colombia but decreased considerably in Venezuela, where large concession areas were voluntarily surrendered.

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