statistics on costs of pecroleun exploration and developnent. A survey of the exploration costs of 12 large oil cornPanlee for the period 1978-l-983 presented to the synposiun questioned the traditional methodology used, The survey indicated tbat the general trend in discovery coats had been upward, but thati on the average, costs fell $ithin a range of $4.04 to $13.89 per barrel. These figures conpare with a price for oil of about $28'00 per barrel (Arabian light' FoB Ras Tanura). other estimates presented at the SymPosiun frorn country experiences ranged fron $5.00 to $8.00 per barrel. 2'7. while expl-oracion and develoPnent costa per barrel could be lorer in oil-producing developing countriea as conPared with such areas as the North sea and the United States of Arerica, profltabllity $as generally higher in the develoPed countries. These developed countrie8 therefore attracted the lionrs share of the available private sector financing. Exploration and develoPnent costs in tbe najority of the deveLoping countries that are not oil producers eere expecCed Eo be higher, because of the tack of infrastructure. such coscs formed a najor deterrent to exploration and developnent in these countries. In thig re6pect one sugqestion r,ra s made that a special incentive be held out to the fir6t conPany Co nake a comnercial discovery so as to attracc [bre conPanies al more favourable lerms to host Governtnents fol otber prospectlve areas. 2a. Because of Ehe taperinq off of explor.tion activity rrorld-wide, costs had recently registered a significant reduction Chrouqh the creation of idle capacity in drilling rigs and geophysical servlces. ft t as, therefore, suqgested that a positive atcitude in internatlonal econonic co-operation c.ou ld turn this situation into an opportunity for acceleraEed exploracion in lhe developing Porld by making adecuate financing available for the rnobllization of idle exploration capacjty.
**Analysis**
The text appears to be focused on the costs and challenges of exploring and developing oil resources, with a global perspective. It discusses the trends in discovery costs, the impact of infrastructure on exploration costs, and the potential for international cooperation to accelerate exploration. The text also touches on the topic of private sector financing and government incentives.

**Category**
Natural resources and environment, Economic development