"الملف 86/2 VI (C46) نفط البحرين" [و‎‎١‎٧‎٢] (٤٢٢/٣٥٥)

Article 14.
It is agreed that all gold payments provided for in this agreement, whether
they are gold pounds or shillings, will be reckoned on the basis of gold pounds,
and in accordance with their weight and pureness at the time of payment. It
is also agreed that payments may be made in American dollars or pounds sterling
on the above-mentioned basis. It is also agreed that in case the payment of the
loan and the rent for the first year is made in pounds sterling or American dollars,
the rate will then be calculated in accordance with the rate of exchange on the
date of payment.
Article 15.
All payments provided for in this agreement and which ought to
be paid to the Government should be paid to them direct or to their
credit in whatever bank they may fix in writing. The Government
have the right to change this bank from time to time provided that
they inform the Company of such action in writing, so as to enable the Company
to have sufficient time to arrange for subsequent payment to the new bank. It is
agreed that the Government shall select this bank, whether in Saudi Arabia, or
in the United States of America, or in England, or in Holland, provided that no
bank be selected in Saudi Arabia, unless it has a correspondent in the United
States of America, England or Holland, through whom the money can be remitted
to Saudi Arabia, and if the Company pays in the proper way to the Government
any payment through the bank or through the correspondent of the bank for the
purpose of its transmission to Saudi Arabia, the Company will be then free of
any risk in respect of such payment. It has been agreed that the first payment
agreed upon (which is the preliminary loan and the rent of the first year) should
be paid within a period of fifteen days as from the date on which this agreement
comes into force to the correspondents of the Netherlands Trading Society of
Jedda (Saudi Arabia) at New York or London for its transmission and handing
over to the Government against proper and correct receipt. The expenses
incurred in this connexion will be charged to the Company. If this first payment
is not paid in gold it may be paid in pounds sterling at the rate of exchange at the
time the Company pays the said payment to the correspondent of the bank.
Article 16.
After discovering oil in commercial quantities within a reasonable period,
the Company may choose a place in Saudi Arabia for the purpose of establishing
a factory for manufacturing a sufficient quantity of petrol and kerosene to suffice
the needs of the Government. It is understood that the requirements or needs
of the Government will not include the sale of the same on their part inside or
outside the country.
The Company should proceed to establish this factory after completing the
necessary preliminary arrangements and after obtaining the approval of the
Government regarding the place which the Company suggests. During every
year following the establishment of this factory the Company should offer to the
Government a loose quantity of about 200,000 gallons of petrol and another of
about 100,000 gallons of kerosene free of charge. It is understood that the
methods of taking over these quantities should not expose the work of the Company
to any danger.
Article 17.
The Company employs at its own expense the number of guards and guides
needed for the protection of its representative camps and establishments. The
Government promise to afford every assistance to the Company in supplying it
with their best soldiers and men and entrust them with this matter. The
Government will offer the Company all reasonable protection at certain wages,
which will not be more than the usual wages paid by the Government. It is
understood that the expenses incurred in connexion with such services should be
paid to the Government by the Company.
Article 18.
In return for the obligations undertaken by the Company in pursuance of
this agreement, and in respect of the payments which are due from the Company
[879 q—5] b 3