'Memorandum of Understanding' between Iran and Sharjah

November 1971

Neither Iran nor Sharjah will give up its claim to Abu Musa nor recognize the other's claim. Against this background the following arrangements will be made:
1. Iranian troops will arrive in Abu Musa. They will occupy areas the extent of which have been agreed on the map attached to this memorandum.
2. (a) Within the agreed areas occupied by Iranian troops, Iran will have full jurisdiction and the Iranian flag will fly.
(b) Sharjah will retain full jurisdiction over the remainder of the island. The Sharjah flag will continue to fly over the Sharjah police post on the same basis as the Iranian flag will fly over the Iranian military quarters.
3. Iran and Sharjah recognize the breadth of the island's territorial sea as twelve nautical miles.
4. Exploitation of the petroleum resources of Abu Musa and the sea bed and subsoil beneath its territorial sea will be conducted by Buttes Gas & Oil Company under the existing agreement, which must be acceptable to Iran. Half the governmental oil resources hereafter attributable to the said exploitation shall be paid direct by the Company to Iran and half to Sharjah.
5. The nationals of Iran and Sharjah shall have equal rights to fish in the territorial sea of Abu Musa.
6. A financial assistance agreement will be signed between Iran and Sharjah.

el-Hakim p.208