Third world oil and gas—Underexplored and underdeveloped

The oil reserves and the production potential from the developing countries are needed to complement those supplies which already exist as a result of the historical activities of the oil industry and those which are now being found in certain other parts of the world. The author argues that what is required in order to meet the challenge of developing a geographically more dispersed pattern of oil and gas production is the establishment of institutional and financial conditions for the exploration and exploitation of the Third World's resources.