Page 59 - The Persian Gulf Historical Summaries (1907-1953) Vol III

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This Agreement shall be construed as supplemental to the Concession and the
provisions of the Concession shall, save where they are inconsistent with the terms
hereof, continue in full force and
This Agreement is written in English and translated into Arabic. If there
should at any time be disagreement as to the meaning or interpretation of any
Clause ol this Agreement, the English text shall prevail.
In witness whereof the parties to this Agreement have set their hands the day
and year first above written.
Shaikh of Kuwait.
Leland T. Jordan,
D’Arcy Kuwait Company Limited
Before me,
Leland T. Jordan,
C. J. Pelly,
Gulf Kuwait Company.
H.M. Political Agent, Kuwait.
(d)
Letter dated December 30, 1951, from the D’Arcy Kuwait Company and
the Gulf Kuwait Company to the Ruler of Kuwait enclosing a copy
of Schedule No. 2 Entitled “ Explanation of the Present and Contemplated
Future Marketing of Crude Oil Produced in Kuwait ” and setting forth
certain modifications to it, with endorsement conveying the Ruler’s
acceptance
His Highness Shaikh Abdullah as-Salim as-Sabah, C.I.E.,
Ruler of Kuwait.
Your Highness;
There is attached to this letter a copy of the Schedule No. 2—" Explanation
of the Present and the Contemplated Future Marketing of the Crude Oil produced
in Kuwait "—attached to the Companies’ proposals made to your Highness’s
London Representative, Mr. Kemp, on the 6th July, 1951, which proposals and
schedule, with certain modifications, were accepted on Your Highness’s behalf by
Your Highness’s Representative on 26th November, 1951.
In so far as this Schedule is concerned, these modifications covered two points
and this letter is to confirm the agreement as above between the Companies and
Your Highness including these two points as follows: —
(1) If, at some future date, in the light of changing conditions, it is felt that the
proposed procedure for calculating “ Gross revenue *’ is no longer
realistic or equitable, the Companies will be willing to consider any
representations regarding a common price basis for both Companies
that Your Highness may wish to make in this connexion. Should the
Companies wish to make any representations on the same subject.
Your Highness will also be willing to consider them.
(2) If, in the future, the Iraq Government receives a greater percentage of
profit, the Companies will be willing to review and discuss the situation
with Your Highness in the light of the new Iraq terms and all other
relevant facts and circumstances. If and when a pipeline is constructed
for the transport of crude oil from Kuwait to the Mediterranean the
effect on Your Highness’s revenues of such transport will be brought
into consideration.
Your Highness’s sincere friends,
D’Arcy Kuwait Company, Limited
(formerly named Kuwait Oil
Accepted: Company Limited)
Leland T. Jordan,
Shaikh of Kuwait
Gulf Kuwait Company
Before me, Leland T. Jordan,
C. J. Pelly,
His Majesty’s Political Agent, Kuwait.