We, Qaboos bin Said, the Sultan of Oman
after perusal of Royal Decree 26/75 Issuing the Law Governing the Administrative Apparatus of the State and its amendments,
Royal Decree 42/74 Issuing the Oil and Minerals Law,
the contract dated 12 January 1989, by which International Petroleum Corporation assigned 10% of its rights and obligations in the mentioned oil agreement to Satellite Exploration AB, which accepts this assignment,
and the letter of the Minister of Oil and Minerals dated 12 February 1989 approving that assignment,
and in pursuance of public interest,
have decreed as follows
Article I
The assignment by International Petroleum Corporation of 10% of its rights and obligations in the mentioned oil agreement signed on 4 May 1987 to Satellite Exploration AB is hereby approved. The final shares of the parties to the agreement are as follows:
90% International Petroleum Corporation.
10% Satellite Exploration AB.
Article II
This decree must be published in the Official Gazette, and comes into force from the date of its issuance.
Issued on: 12 Safar 1410
Corresponding to: 13 September 1989
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 415 issued on 16 September 1989.