Opinion ID: 186237
Heading Depth: 2
Heading Rank: 3

Heading: Implementation of the Amended Purchase Agreement

Text: 11 Four days after the Amendment was signed, Congo and Occidental executed a one-page protocol, which stated: Reference is made to the Amendment, dated 19 February 1994 (the `Amendment'), to the Purchase Agreement dated April 28, 1993, between the Government and Occidental. Protocol (Feb. 23, 1994) (February Protocol), reprinted in J.A. 174-75. The Protocol clarified that, notwithstanding Article 9.2 of the Amendment (pursuant to which Congo directed that Occidental assign to Gulf the right to take a specified percentage of the royalty oil under the Purchase Agreement), Congo and Occidental agreed that the portion of the identified royalty oil delivered to Gulf would not be counted against the 50 million barrels that Congo had sold to Occidental. See id., J.A. 174. In addition to being signed by representatives of Congo and Occidental, the Chairman of Gulf indicated, by his signature, that Gulf had received and approved the document. Id., J.A. 175. 12 Several weeks later, on May 2, 1994, Congo and Gulf signed their own protocol pertaining to the assignment of royalty oil to Gulf. Protocol (May 5, 1994) (May Protocol), reprinted in J.A. 176-79. This protocol explicitly referred to the Purchase Agreement and Amendment signed by Congo and Occidental and specified that [t]he terms used in this Protocol shall have the same meaning as defined in the Purchase Agreement as amended, modified and supplemented by the Amendment. Id. at 1, J.A. 176. The protocol first expressly acknowledged Occidental's assignment of rights to Gulf, as directed by Congo. Id. ¶ 1, at 1, J.A. 176. It then established that Gulf's rights under the assignment in the Amendment equaled 10 million barrels of oil for which Gulf was to pay Congo $30 million. Id. ¶¶ 1-2, at 1-2, J.A. 176-77. (Approximately seven months later, Congo and Gulf agreed to limit the sale to five million barrels for the first $15 million paid by Gulf. See Complaint ¶ 25, at 9, J.A. 33.) 13 Also on May 2, 1994, Congo, Occidental, and Gulf signed a letter agreement stating that Gulf would take over Occidental's obligations to advise Congo on a structural adjustment program. Id. ¶ 22, at 8, J.A. 32. In conjunction with the letter agreement, Congo and Gulf executed a Structural Adjustment Program Service Agreement stating that Gulf would provide the Congo with some consulting services relating to the financial management and implementation of the Congo's structural adjustment program. Id. The Congo directed Occidental to work out with Gulf any compensation due Gulf for Gulf's performance of Occidental's obligations under the structural adjustment program. Id. ¶ 23, at 9, J.A. 33.