Review of 1965 Petroleum Developments in South America and Caribbean Area

Abstract

This review includes 25 reporting countries from South America and the Caribbean area--9 of which have ong been established producers of petroleum and collectively accounted for 14% of the world's total oil production in 1965. Total production from these 9 countries within the coverage of this review rose for the seventh successive year, and for 1965 averaged almost 4.3 million b/d up 105,000 b/d from 1964 figures. Of this production, 81% came from Venezuela, which continues to be the world's largest exporter of petroleum. Perhaps the most significant single development of the year in the area under review was the revival of exploration interest in Central America--this time, the offshore witnessed principally by leasing activity, including activity by majors. Geological nd geophysical surface work throughout the whole of South America and the Caribbean area in the search for new reserves appears to have increased, but only slightly, from 1964 figures. Of 364 exploratory wells completed, 127 proved successful. Brazil's Miranga field may be the year's outstanding single discovery. Accompanying the text are 23 map-figures and 69 tables.