PETROLEUM.

Poverty Bay Standard, Volume X, Issue 1194, 7 November 1882, Page 2

PETROLEUM.

The London “Times' 5 own correspondent at ; Philadelphia described recently the important petroleum wells of Pennsylvania ; those of Baku on the Caspian Sea, a short account of which appeared also recently in “The Times,” are now the subject of a report from the Vice-Consul at Batoum, on the Black Sea. The increasing importance of these wells has led to a project being set on foot for connecting Baku and Batoum by means of pipes, thus avoiding the difficulties and dangers of the railway transport of the oil. At Batom the petroleum will be pumped into tank steamers, and when the arrangements are complete and in working order the Consul says : —“ Very sanguine expectations are entertained as to the possibility of successfully competing with American petroleum imported to Europe.” Mr Peacock gives the following description of the Baku petroleum territory ;—“ The total area of the Baku peti ileum region, taking its extreme points of surface oil, gas wells, etc,, is not less than 1,200 square miles. Its elevation above the level of the CaspianJSea varies greatly. The Caspian is 86ft. below the level of the ocean. The general aspect of this region is that of a barren desert deprived of water and vegetation, chequered here and there with dried-up salt lakes, natural outflows and pools of oil, gas wells, and exhausted mud volcanoes. Even on the surface of the Caspian natural outflows of petroleum and gas may be seen at certain places. The boring operations are mostly carried out on the peninsula of Apsheron, where the potential productiveness is considered to be much greater than that of American petroleum regions. Comparing the results achieved in the two countries on one side and the average depth and total number of wells on the other, it may be justly stated that the natural petroleum riches of Baku, as far as our knowledge goes, have no parallel in the world. The lands are partly purchased and partly held by lease. The former comprise 680 desetines, or 1,836 acres, sold by the Crown to different parties by public auction for the sum of 2,980,307 r., or above £300,000 at the rate of exchange in 1872 when the sale took place. For certain plots as much as £3,500 per acre has been paid. The yearly rent for leased Crown land is only 1 Or. per desetine, or about 7s. 6d. per acre. These lands were supposed to be worthless at the time, but the contrary has been proved since, and they now form a subject of wild speculation among the numerous moneyless leaseholders—very detrimental to legitimate business. A tract of the most valuable petroleum land with an area of 270 acres has been granted to a certain number of high officials as a token of Imperial favor. In 1873 the number of wells sunk by way of drilling was 17. The total number now is above 355. The average depth of borings is 350 ft. ; the deepest well 637 ft. ; with a diameter from lOin. to 14in. The number of unproductive wells from natural causes is comparatively small; but a great many wells are abandoned for want of means or skill to continue the boring, or still more frequently on account of the extremely low price of crude petroleum. Flowing wells yielding from 2,000 to 4,000 barrels (eight poods oi 40 gallons to the barrel) daily, and pumping wells yielding from 300 to (500 barrels daily arc of common occurrence.” The total quantity produced in 1873 was 500,000 barrels, and in 1881 this rose to between 3,000,000 and 4,000,000, besides immense quantities of crude petroleum, which was wasted at the place of production for want of adequte means of tankage and transportation. The export of the different petroleum products from Baku by sea amounted to 2,946,000 barrels in 1881, as against 1.702,200 in 1879.