Page 58 - The Persian Gulf Historical Summaries (1907-1953) Vol III_Neat

54

Kuwait Company (1,000 shares with par value of $25*00 per share) as fully paid
and the assumption by Gulf Kuwait Company of the obligations and liabilities
hereinabove assumed by it.
This assignment and conveyance is effective as of the close of business on
the date of its execution.
In evidence whereof this instrument is executed by the parties hereto in
duplicate originals this nineteenth day of November, 1951.
Kuwait Oil Company Limited,
M. R. Bridgeman,
C. W. Hamilton, i Directors.

A. Angiloni,
Secretary.

Attest: James M. Greer, Gulf Kuwait Company,
Assistant Secretary. By C. W. Hamilton,
Vice-President.

(c)
Agreement dated December 30, 1951, for the Amendment of the 1934 Concession,
signed by the D’Arcy Kuwait Company, the Gulf Kuwait Company and
the Ruler of Kuwait.

This is an Agreement made at Kuwait on the 30th day of December, in the
year 1951, corresponding to the 2nd day of Rabi II, 1371, between (on the one
part) His Highness Shaikh Abdulla as-Salim as-Sabah, Companion of the Most
Eminent Order of the Indian Empire, the Shaikh of Kuwait, in the exercise of
his powers as Ruler of Kuwait on his own behalf and in the name and on behalf
of his heirs and successors in whom is or shall be vested for the time being the
responsibility for the control and government of the State of Kuwait (hereinafter
called “ His Highness ”) and (on the other part) D’Arcy Kuwait Company Limited,
a company incorporated in the United Kingdom under the Companies Act, 1929,
and having its registered office at 1 Great Cumberland Place, London, W. 1 (here­
inafter called the “ British Company ”) and Gulf Kuwait Company, a corporation
incorporated under the Laws of the State of Delaware, United States of America,
and having an office at Gulf Building, Pittsburgh, Pennsylvania, U.S.A. (hereinafter
called the “ American Company ”).
Whereas His Highness Shaikh Sir Ahmad al-Jabir as-Subah, K.C.S.I., K.C.I.E.
(the predecessor of His Highness), in the exercise of his powers as the Ruler of
Kuwait entered into on 23rd December, 1934, corresponding to the 16th day of
Ramadhan, 1353, a Petroleum Concession Agreement (hereinafter called “the
Concession ’’) with the British Company in its then name of Kuwait Oil Company
Limited,
And whereas the British Company and the American Company, by virtue of
an Assignment by the British Company to the American Company dated 30th
November, 1951, executed with the consent (which is hereby confirmed) of His
Highness, are each now vested with an undivided half interest in the Concession
and in all the rights, privileges and interests based upon or derived from the
Concession,
And whereas the British Company and the American Company have appointed
the Kuwait Oil Company Limited, a company incorporated in the United Kingdom
(hereinafter called the “ Operating Company ”), and formerly registered under the
name of the Kuwait Oil Company (London) Limited, as their manager to manage
and carry on the operations under the Concession on their behalf,
And whereas His Highness, on the one hand, and the British Company and
the American Company, as the present owners of the Concession and of all the
rights privileges and interests based upon or derived from the Concession, on the
other hand, have agreed that it is desirable in the interests of all parties that the
Concession should be altered and amended as hereinafter specified.