Production - Foreign - Petroleum Development in Argentina in 1932

The production of petroleum in Argentina during 1932 was greater than in any preceding year. The total amount produced was 13,012,-756 bbl. This figure represents a decided increase in the production of oil in Argentina and can be attributed largely to the increased activities of the Royal Dutch operations at Kilometer 27 in the Comodoro Rivadavia district and those of the Standard Oil Co. of Argentina in the Salta region. Production from the Royal Dutch wells amounted to considerably more than 10,000 bbl. per day over quite a long period during the year. Of the 13,012,756 bbl. of oil produced during 1932, the Government Agency (Y. P. F.) was responsible for some 5,578,954 bbl., while 7,433,-802 bbl. were produced by private companies. Although in 1930 the Y. P. F. produced about 55 per cent of the total production and in 1930 50 per cent of the total, in 1932 its production had fallen to about 42 1/2 per cent of the total. This decrease in the proportion produced by the Y. P. F. was not due to a decrease in its production but to the decided increase in the production of private companies, particularly those two whose names are given above. One new discovery was recorded during the year. This was a well drilled by the Y. P. F. at Cacheuta in the province of Mendoza which came in pumping 80 bbl. of 15" gravity oil from a depth of 673 meters. This well was completed at approximately the same time that the provincial government of Mendoza granted a concession to the Y. P. F. and declared the whole province as a reserve in which no concessions may be granted for a period of 10 years. Under these conditions, the federally operated Y. P. F. will have no competition in the Cacheuta area from private companies such as they have in the other three fields of the republic. The Y. P. F. wildcat west of Comodoro Rivadavia at Pampa Maria Santissima on the Rio Senguerr was completed as a dry hole during 1932. This we11 was reported as a producer in 1930 by persons returning to this country from Argentina but it appears that they had been misinformed. The site of this test has been abandoned and a new location made north of the Rio Senguerr.