مجموعة ٦/ ٤٨ "النفط: امتيازات في المملكة العربية السعودية. (الأحساء)" [ظ‎‎٨] (١١٥٣/١٦)

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Article 14.
I he Company shall pay the Government a royalty on all net crude oil
produced and saved and run from field storage, after first deducting—
(1) Water and foreign substances; and
(2) Oil required for the customary operations of the Company’s installations
within Saudi Arabia; and
(3) The oil required for manufacturing the amounts of gasoline and kerosene
to be provided free each year to the Government in accordance with
article 19 hereof.
I he rate of royalty per ton of such net crude oil shall be either—
(a) Foui- shillings gold, or its equivalent; or
(b) At the election of the Company at the time of making each royalty
payment, 1 dollar, United States currency, plus the amount, if any,
by which the average rate of exchange of 4 shillings gold, during
the last half of the semester for which the royalty payment is due,
may exceed 1 dollar and 10 cents, United States currency. Thus,
for example, if such average rate should be 1 dollar and 14 cents,
l nited States currency (that is to say, 5 dollars and 70 cents per gold
pound), the royalty rate would be 1 dollar and 4 cents, United States
currency, per ton of such net crude oil.
Article 15.
If the Company should produce, save and sell any natural gas, it will pay to
the Government a royalty equal to one-eighth of the proceeds of the sale of such
natural gas, it being understood, however, that the Company shall be under no
obligation to produce, save, sell, or otherwise dispose of any natural gas. It is
also understood that the Company is under no obligation to pay any royalty on
such natural gas as it may use for the customary operations of its installations
within Saudi Arabia.
Article 16.
The Government, through duly authorised representatives, may, during the
usual hours of operations, inspect and examine the operations of the Company
under this contract and may verify the amount of production. The Company
shall measure in accordance with first-class oilfield practice the amount of oil
produced and saved and run from field storage, and shall keep true and correct
accounts thereof, and of any natural gas it may produce and save and sell and
duly authorised representatives of the Government shall also have access at all
reasonable times to such accounts. The Company shall, within three months after
the end of each semester, commencing with the date of commercial discovery of
oil, deliver to the Government an abstract of such accounts for the semester, and a
statement of the amount of royalties due the Government for the semester. These
accounts and statements shall be treated as confidential by the Government, with
the exception of such items therein as the Government may be required to publish
for fiscal purposes.
The royalties due the Government at the end of each semester, commencing
with the date of commercial discovery of oil, shall be paid within three months
after the end of the semester. In case of any question as to the amount of
royalties due for any semester, such portion of the amount as may be unquestioned
shall be tendered the Government within the period hereinabove provided, and
thereupon the question shall be settled by agreement between the parties, or, failin<>‘
that, by arbitration as provided in this contract. Any further sum which may be
payable to the Government as a result of this settlement shall be paid within
sixty days after the date of such settlement.
Article 17.
It is agreed that all gold payments provided in this contract, whether pounds
gold or shillings gold, are to be based on the gold pound standard according to
its weight and fineness at the time the payments may be due. It is also agreed
that wherever it is stipulated in this contract that the equivalent of any sum or
amount in pounds gold or in shillings gold may be paid, such equivalent may be
dollars in United States currency, or pounds sterling.
It is agreed, furthermore, that the equivalent of pounds gold or shillings
gold, for any payment which may be made hereunder in dollars. United States