Papers - - Produciton - Foreign - Petroleum Development in Peru during 1934

The Peruvian production increased over 3 million barrels from 1933 to 1934—from approximately 13¼ million barrels to over 16¼ million barrels—bringing the cumulative production of the country up to 171 million barrels. Most of this production, as well as most of the increase in 1934, came from La Brea-Parinas Estate, the property of the International Petroleum Co., Limited. In 1932 Peru stood eleventh among the oil-producing countries of the world, but in 1933 her production exceeded that of Trinidad, Argentine and Colombia, which placed her in eighth position. In 1934 Peru's production was exceeded by that of Colombia by about one million barrels, and by that of the Argentine by about 1½ million barrels, thus placing her in tenth position. After several years of relative inactivity in drilling and exploration there was a noticeable increase during 1934 in both of these lines of activity. Oil Fields La Brea-Parinas Estate.—Production on the La Brea-Parinas Estate. reached a significant total of 85,080 bbl. as early as 1891. It increased to over one million barrels in 1912, and to over 10 million barrels in 1929, and in 1934 it reached an all-time high of over 14 million barrels. The total production from 1890 to 1934 was 133,784,609 barrels. Practically all the drilling on the property has been done with cable tools, but during 1934 three strings of rotary tools were introduced. One was a heavy outfit for drilling a deep test and the other two were lighter outfits for deepening wells in the newer section of the field, where the gas pressure was too high to permit safe drilling with standard tools. During 1934 a total of 28,127 ft. was drilled, 66 wells were deepened, and 6 new wells were completed. At the end of the year 2844 wells had been drilled on the Estate, of which 1814 were still productive. The remaining 1030 wells represent abandoned producers or dry holes. The total area that has been productive up to the present time is estimated at 13,369 acres. An interesting article on the various phases of operations of the International Petroleum Co. was written by Arthur Iddings and published in The Oil and Gas Journal (Dec. 27, 1934).