Petroleum developments in South America, Central America, and Caribbean area in 1975

Journal Article · Fri Oct 01 04:00:00 EDT 1976 · Am. Assoc. Pet. Geol. Bull.; (United States)

OSTI ID:7316011

Hatfield, L E; Neff, C H

The review for 1975 presents information on petroleum developments in 30 countries and areas. Hydrocarbons were produced in 11 countries with total reported production of 1,308,847,000 bbl of oil and 1,056,076 MMcf of gas. Oil production decreased 15.7% from the 1974 level with Venezuela accounting for most of the volume decline by reducing production to 2,346,700 b/d. Since 1958 this was the first year that Venezuelan production dropped below one billion bbl. Ecuador's production declined by 9.1% to 160, 911 b/d because of continued governmental restriction, a major pipeline break, and full storage terminals. Other countries also reported production declines with the exception of Trinidad and Barbados. Total wells drilled (1,557) decreased by 173 or 10% from the 1974 level with the sharpest decline in Venezuela (132) and Argentina (54). Exploration-drilling results offshore continued to be disappointing. On December 31, 1975, all areas in Venezuela under concession or service contract were nationalized by decree. The state will form 14 state-owned companies including CVP from concessions and assets of the 20 former concessionaires.

• Research Organization: Weeks-Tator Consulting Geologists, Inc., Miami, FL
• OSTI ID: 7316011
• Journal Information: Am. Assoc. Pet. Geol. Bull.; (United States), Journal Name: Am. Assoc. Pet. Geol. Bull.; (United States) Vol. 60:10; ISSN AAPGB
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020200 -- Petroleum-- Reserves
Geology
& Exploration
020300* -- Petroleum-- Drilling & Production
ATLANTIC OCEAN
CARIBBEAN SEA
CENTRAL AMERICA
DATA
DOCUMENT TYPES
ENERGY SOURCES
EXPLORATION
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
INDUSTRY
INFORMATION
LATIN AMERICA
MAPS
NATURAL GAS
OFFSHORE OPERATIONS
PETROLEUM
PETROLEUM INDUSTRY
PRODUCTION
REVIEWS
SEAS
SOUTH AMERICA
SURFACE WATERS