"ملف ١/٥ II شركة نفط الكويت" [و‎‎٣‎٤] (٥٥٢/٧٢)

mm
•licences, an
embodying th
as concerns the
f ayreoncnt to si-en ultimately a le
i folloranm uoints at any rate so -e
Shoikhs 7 sharo in oil
ase
so far
uroeuced .)
(i) Area: Bahrain)Not more than 100,000 acres in the
Kuuait )ar;grotate in not more than 5 blocks.
i
(ii)Each Sheikh to revive from the Company a flat rate
royalty of F? o as 8 per ton of not crude oil (i.e.
after deduction of water and foreign substances and
oil required for the customary operation of boring-
plant) received into the Company’s field storape
tanks and reservoirs.
x
The rate of royalty to be subject to revision at
the end of 10 years by mutual agreement, or by ar
bitration in default of mutual agreement*
N.B.If the Company
should decide to
take up less than
100,000 acres under either
mining lease, the minimum A minimum royal tv or fixed rent for not less than
royalty payable to 100,000 acres of V s . 30,005 per annum* to be paid by the
either Sheikh pro tanto Company to either Sheikh, and for this the Company
according to a defi- may take an equivalent amount of oil.
nite scale.
0 or such less
sun as may be
t reed upon as
theu^oroper rent
fc an acre of
less than 100,000
acres•
If the sum of the royalties drawn by either Sheild
in any one year equals or exceeds V s . 30,000, no "fixed
rent" shall be paid be the Company; but if the royal
ties prove to be less in any one year than the sum of
id 30,000^ the "fixed rent" shall nevertheless be paid
to the Sheikh by the Company.
(iii) The Sheikh, in each case, to be reserved the
right, acting on the advice of the political Resident
to terminate the lease in the event of the Company
failing to fulfil the working conditions of the lease
(to be agreed upon when the lease in drawn up for
signature) or to produce sufficient royalties*
Cu s t om s Exenp tion.
x counting from
the date of
signature of the
exploration
y'^'Sences •
The Company shall be exempted by either Sheikh sf!
for a period, of 10 years x from payment of import dues
or taxes on any material introduced into Kuwait or
Bahrain territory for the operation of the explora
tion and prospecting licences or the development of
oil deposits found.