File 10/5 II Hasa oil: CASOC's activities in Hasa; development of Ras Tannura; Political Agent's visit to Hasa [‎111] (228/656)

A rticle 32.
The Company may not, without the consent of the Government, assign its
rights and obligations under this contract to anyone, but it is understood that
the Company, upon notifying the Government, shall have the right to assign its
rights and obligations hereunder to a corporation it may organise exclusively for
the purpose of this enterprise. Any such corporation or organisation, upon being
invested with any or all of rights and obligations under this contract, and upon
notification thereof to the Government, shall thereupon be subject to the terms
and conditions of this agreement.
In the event that stock issued by any such corporation or organisation should
be offered for sale to the general public, Vhe inhabitants of Saudi Arabia shall be
allowed a reasonable time to subscribe (upon similar terms and conditions offered
to others), for at least 20 per cent, of such shares of stock so issued and offered
for sale to the general public.
A rticle 33.
It is understood that the periods of time referred to in this agreement shall
be reckoned on the basis of the solar calendar.
A rticle 34.
The effective date of this contract shall be the date of its publication in Saudi
Arabia, following the notification of this contract by the Company.
A rticle 35.
This contract has been drawn up in English and in Arabic. Inasmuch as
most of the obligations hereunder are imposed upon the Company and inasmuch
as the interpretation of the English text, especially as regards technical obligations
and requirements relating to the oil industry, has been fairly well established
through long practice and experience in contracts such as the present one, it is
agreed that while both texts shall have equal validity, nevertheless, in case of
any divergence of interpretation as to the Company's obligations hereunder, the
English text shall prevail.
A rticle 36.
It is understood that the contract, after being signed in Saudi Arabia, shall
be subject to ratification by the Company at its offices in San Francisco,
California, before it shall become effective. After both texts of this contract have
been signed in duplicate in Saudi Arabia, the signed copies shall be sent by
registered mail in the next out-going mail to the Company in San Francisco,
California, and within fifteen days after receipt in San Francisco the Company
shall transmit to the Government by telegraph whether or not it ratifies this
contract. If the contract is not ratified by the Company within fifteen days after
that period, it shall be null and void and of no further force or effect.
Likewise, if the amount of the first payment and the first annual rental is
not made within the time agreed upon in article 18 hereof, the Government may
declare this contract to be null and void and of no further force or effect.
Upon ratification of this contract by the Company, one signed copy of each
text, together with the necessary evidence as to ratification by the Company, shall
be returned to the Government. Also upon ratification of this contract by the
Company, the contract shall be published in Saudi Arabia in the usual manner.
Signed this 29th day of the month of May 1933.
Letter to Ms Eoocellency Sheikh Ahdulla Suleiman- aL-H amdan.
Dear Sheikh Abdulla, 29, 1933.
REFERRING to the contract which has been signed to-day by you, on behalf
of the Saudi Arab Government, and by the undersigned, on behalf of Standard
Oil Company of California, relative to an oil concession covering a portion of
Eastern Saudi Arabia, I am setting forth below the agreement we have also
reached on behalf of the two parties to the same contract, which agreement shall