text: 29. rt r.'a s also noled that because of the nord higher level of exploration costs and reduced expectations for higher oil pricee, private sector investors were paying particular aclention to exPloration exPenditures and often called for the revision of aqreenents with develoPing couneries, which eould enable lhen to recover costs a! an accelerated rate in the case of a corFnercial discovery. Tbe sane concerns have led to recon6ideration of the practice of rcarried interestn, by which. in a Joinr venture rrith a private investor, the state peeroleum enterprise pays back its share of exploration and/or development costs only after the commercialization of a successful discovery, with the private investor, in fact, carrying the tbole risk. Financial requiremencs, sources and nethods of financing 30. fn consj.dering financing asPects of Petroleurn exploration and developnent' synposiurn participants ltere presented with coples of che sec reta ry-General ' s reportA/40/637 Englisb Page I0 41. As already noted, some developing countries have already eased tbeir terms and conditlons in order Co attract private sector capital and other developing countries are in the proceEa of doing so. 42. Wbile enphasizing that careful conaideration needed to be given to the acbievernent of eauitable terna in order to contribute to long-tern, co-operative stabllity in tbe relatlons betu€en host countries and foreign investors, inlernational organizations rrere called upon to carry out studies and facilitate the exchange of information especialty anong developing countrles in tbis crucial f ield . Financial and technlcal asaiBtance 43. ft eas noted that one of Che ttlost lnportant initiatives in Che financing of petroleum exploration and developnent had been taken by lbe World Bank in tbe late 1970s througb ils regular Loan progranmes and credita from lts affiliate, the fnternational. DeveLoFnent Association (IDA). llhile most of the funds involted had been devoted to investnent for the deveLoprcnt of discovered resources, significant
analysis: The text appears to be discussing the financing and development of petroleum resources, specifically in the context of international cooperation and investment. It highlights the challenges of exploration and development, the role of private sector investors, and the need for international organizations to facilitate the exchange of information and provide financial and technical assistance.