Royal Decree 4/87 Approving the Assignment by Union Texas Oman Company of All Its Rights and Obligations in the Petroleum Agreement Signed on 12 October 1977 to Neste OY

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,

Royal Decree 74/77 Ratifying the Petroleum Agreement Between the Government of the Sultanate and a Group of Companies Comprising Deminx, Agip, and BP, signed on 12 October 1977,

the subsequent assignments made between this group and its subsidiary companies,

Royal Decree 105/84 Determining the Final Shares of the Companies Constituting the Group,

the assignment by Union Texas Oman Inc of all its rights and obligations in the mentioned petroleum agreement to Neste OY, and the acceptance by the latter of this assignment,

and the approval of the Minister of Oil and Minerals to the mentioned assignment, as set out in his letter dated 16 December 1986,

and in pursuance of public interest,

have decreed as follows

Article 1

The assignment by Union Texas Oman Inc of all its rights and obligations in the mentioned petroleum agreement to Neste OY is hereby approved. The final shares in that agreement are distributed among the companies as follows:

15% Deminex Oman Limited

30% Agip International Limited

5% B.P. Petroleum Development Limited

10% Hispanica De Petróleos S.A.

25% BP North America

15% Neste OY

Article 2

This decree must be published in the Official Gazette, and comes into force from the date of its issuance.

Issued on: 12 Jumada Al-Akhira 1407
Corresponding to: 11 February 1987

Qaboos bin Said
Sultan of Oman

Published in Official Gazette 353 issued on 15 February 1987.