Page 46 - The Persian Gulf Historical Summaries (1907-1953) Vol III_Neat

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Highness’s late father, Sheikh Sir Hamad bin ’Isa al Khalifah, K.C.I.E., C.S.I.,
then Sheikh of Bahrain, whose rights and obligations under said Lease have now
devolved upon His Highness, and being supplemental to all previous agreements
amending said Lease, including the Deed of the 3rd day of June, 1936, known as
the First Supplemental Deed, and the Deed of the 19th day of June, 1940, known
as the Deed of Further Modification,
Witness that His Highness and the Company hereby agree that the said Lease,
as amended, is further altered and amended in the following particulars: —
1. The Company shall pay to His Highness a fee of two and one-quarter
pence sterling (United Kingdom) per barrel (consisting of forty-two (42)
United States standard gallons of two hundred thirty-one (231) cubic inches
at sixty degrees (60°) Fahrenheit) in respect of all foreign crude oil brought
into and refined in Bahrain on and after 1st January, 1952. Such fees in
respect of crude oil brought into and refined in Bahrain during any calendar
month are payable not later than the end of the succeeding month.
2. All monetary obligations which are designated by the Lease, as
amended, in terms of rupees, including the present rate of royalty payable
by the Company to His Highness in respect of net Bahrain crude oil got and
saved, shall hereafter be due and payable in pounds sterling (United Kingdom)
at the rate of one shilling sixpence sterling (United Kingdom) for each rupee.
This provision shall not affect the validity of payments made prior to the
date of this Deed in satisfaction of obligations then payable.
3. The Company guarantees that during the five years next following
the date of this Deed it will produce oil from the presently known Bahrain
field to the limit permitted by good oil field practice, except as prevented by
force majeure as defined in Article IV of the Lease, as amended by Article 8
of the Deed of Further Modification.
4. If force majeure, as defined by the Lease as amended (other than force
majeure for which His Highness or the Government of Bahrain is responsible),
shall at any time or times compel the Company to suspend or cease operations,
the Company guarantees that His Highness will receive as a minimum in
such year during the period of force majeure Seven Hundred Fifty Thousand
Pounds Sterling (United Kingdom); the amounts advanced by the Company
to accomplish this guarantee shall be recovered from royalties and fees payable
to His Highness in years subsequent to the period of force majeure; provided,
this guarantee shall cease to operate and shall be of no effect during any time
when the amount to be recovered as aforesaid equals One Million Five
Hundred Thousand Pounds Sterling (United Kingdom).
5. The Company shall furnish to the Bahrain Government for its own
internal use and consumption, free of charge, such amounts of petrol as the
Government may request, not to exceed One Hundred Fifty Thousand
(150,000) Imperial Gallons annually.
6. The term of the Lease, as amended, is hereby extended to terminate
31st December, 2024.
Except as hereby amended, the Lease, as previously amended, continues in
full force and effect.
The Arabic.and English texts of this Agreement shall have equal effect.
In witness whereof the parties have hereunto set their hands and seals this
eighth day of December, 1952, executing this Deed in three parts, each of equal
validity.

The Bahrein Petroleum Company His Highness,
Limited. the SHEIKH OF BAHRAIN.

By R. M. BROWN.
Vice-President and Attorney in Fact.

Before me, J. W. WALL.

Her Britannic Majesty’s Political Agent,
Bahrain.