Production - Foreign - Petroleum Developments in Ecuador 1941 through 1944

The entire production of oil in Ecuador so far has come from the Santa Elens Peninsula, Province of Guayas. Both the shallow fields of the northern and the deeper fields of the southern part of the peninsula have been in constant exploitation, though the former are of doubtful economic value. In Table I herewith, which commences with the total amounts produced by the various companies up to 1940, annual company totals are given for the succeeding years. The figures for 1944 have been partly estimated. Table 2 gives figures on casinghead gasoline. Shell Company of Ecuador (formerly known as Anglo-Saxon) has continued active exploration in the Oriente region east of the Andes, and during 1944 the Company's first wildcat well was spudded in. International Ecuadorean Petroleum Co. (formerly International Petroleum Co., Limited) has pursued an active exploration campaign since the latter part of 1939, and a drilling string was placed in operation about a year later. A second string of tools was added during 1943 and a third a few months ago. Ten wildcats, all dry, have been completed in this period, two wells are drilling at the present time and other locations are on the program. Seven of the wells thus far drilled are in the area between Guayaquil and the Santa Elena Peninsula, one up the Daule River beyond Balzar, one on Puna Island in the Guayas Estuary and one in the northern province of Esmeraldas. Both the present drilling wells are in the Guayaquil-Santa Elena zone. The situation in regard to concessions has changed during the past four years because I.E.P.C. has made its selections from the extensive Daule-Guayas Study Concession, as a result of which large tracts were returned to the Government; because of the expropriation of the holdings of the "Ecuapetrol," a German concern whose acreage has passed into other hands; the Peruvian-Ecuadorean boundary settlement, which has reduced Shell's holdings somewhat; and the transfer of most of the holdings of the Cia. Minero-Petrolera del Pacifico to I.E.P,C. The greater part