Page 206 - The Persian Gulf Historical Summaries (1907-1953) Vol III

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11th Rajab 1356. The amended Article, which will take effect from the date of
the signature to this Agreement is as follows: —
“The period allowed within which drilling shall begin is that of 15 calendar
years from the date of signature of the concession Agreement. If the period of
15 years stipulated above expires and the Company has not done geological
examination and field work, &c., constantly with every diligence and activity then
the Agreement shall be annulled.”
3. The Ruler agrees that all obligations of the Company under the original
Paragraph “ B ” of Schedule No. 1, Page No. 2, shall now be cancelled with effect
from the date of this Amendment dated Twenty-sixth February 1946 to the Sharjah
Oil Agreement of 1937.
In witness whereof the parties to the Agreement have set their hands the
Day and Year first above written: —
The Ruler, The Company,
Sultan. B. H. Lermitte.

(c)
Amendment Number 2, dated February 7, 1951, to the Agreement, prolonging by
a further 5 years, the period allowed for drilling
1. This Agreement made the Seventh day of February One Thousand Nine
Hundred and Fifty-One between His Excellency Shaikh Sultan bin Saqr al Qassim,
Ruler of Sharjah and its territories (hereinafter called “ The Ruler ”) of the first
part and Mr. Basil Henry Lermitte, attorney of Petroleum Development (Trucial
Coast) Limited (hereinafter called “ The Company ”) of the other part is hereafter
referred to as “Amendment No. 2 dated 7th February, 1951, to Sharjah Oil
Agreement of 1937 ”
2. In this Agreement the Ruler and the Company agree to cancel Paragraph 2
of the Amendment dated 26th February, 1946, and substitute the following which
will take effect from the date of the signature to this Agreement: —
“ 2. The period allowed within which drilling shall begin is that of 20 calendar
years from the date of signature of the Concession Agreement.
If the period of 20 years stipulated above expires and the Company has
not done geological examination and field work, &c., constantly with
every diligence and activity then the Agreement shall be annulled.”

3. The Ruler agrees that all obligations of the Company under the original
Paragraph 2 of the Amendment dated 26th February, 1946, shall now be cancelled
with effect from the date of this Amendment No. 2 dated 7th February, 1951,
to the Sharjah Oil Agreement of 1937.

In witness whereof the parties to this Agreement have set their hands the
Day and Year first above written: —
The Ruler, The Company,
Sultan. B. H. Lermitte.

(d)
Letter, dated October 10, 1953, from Petroleum Development (Trucial Coast)
Limited to the Ruler of Sharjah informing Him of the Company’s Decision
to Increase the Yearly Amount Paid to Him under Article 5 (c) of the
Agreement
We have the pleasure to inform you that the Company has decided to increase
the amount paid to you every year under Article 5 (c) of the Oil Concession Agree­
ment from Rs. 30,000/-/- to Rs. 85,000/-/- commencing from the date of this
letter. This amount will be paid annually in arrears.
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