Papers - Foreign Production - Petroleum Production in Bolivia in 1929

BOLIVIA still remains among the oil countries that have proved oil acreage but no production which is being marketed. No steps have been taken during the past year to provide facilities for transport of Bolivian oil to market nor are any known to be contemplated for 1930. The only active operator to date is the Standard Oil Co. of Bolivia, subsidiary of the Standard Oil Co. of New Jersey. The potential production from completed wells is practically unchanged from the 1928 figure of 6000 bbl. daily. As far as is known, there has been only one completion during the year 1929. This is the Machareti well, which is about 50 km. north of Villa Montes along the road to Charagua. The well is reported at about 250 bbl. daily initial production. The gravity of the oil is not known but is presumed to be about 40" Bé., the average for the region. The Standard Oil Co. of Bolivia has five strings working on various parts of its concession. No new locations have been made definitely. Company Activities There was no change in the situation of American holdings in Bolivia during 1929. The oil rights of an English company, acquired under a special colonization contract with the Bolivian Government, are being negotiated in New York and may mean the entrance of another of the large American oil companies in Bolivia. The Sucre Syndicate sold its holdings to the Standard Oil Co. of Bolivia during the past year. .A local company called the "Aguila Doble" was formed during 1929 to drill a well or wells near the town of Cochabamba on structures mapped by a local geologist. It is reported that the Government is buying about one-fourth of the capital stock of this company for 500,000 Bolivianos (about $180,000). The company has not yet raised sufficieht funds to buy drilling equipment so that no operations have been started. According to the statements published in La Pas, this company has acreage on seven anticlinal structures near Cochabamba. This area lies about 8500 ft. above sea level on the eastern Hank of the Andes Moun-