The government of coup d’ etat signed the Consortium Agreement in 1954.
The Anglo-Persian Oil Copmany , which had then become the British Petroleum , had 40 percent of shares , and 40 % was owned by American oil companies . Of the remaining 20% , fourteen percent of the shares’ went to the Royal Dutch-Shell , and 6% to the French “ CFP “.Financially , this agreement did not differ much from other agreements in the Middle East , because Iran’s revenues would not move beyond the 50% which was the basis in all of them . In addition to 10 million Pounds it received from Iran , as compensation for Kermanshah refinery and domestic distribution facilities , the British Petroleum also obtained from its new partners who had 60% of the shares of the consortium , the amount of 214 million Pounds ( 600 million U.S Dollars ) as key money . From the point of view of Iran , the contents of this agreement were much more unfavorable than conditions set forth several months earlier in the joint “ Churchill-Eisinhower “ proposal to Dr. Mossadegh . Iranian oil production in the first 3 years reached the pre-nationalization era level . From then on , production gradually increased . Production operations that were limited to Masjid-eSoleiman and Haftgel fields up to the time the oil industry was nationalized , quickly expanded and covered the huge oilfields of Gachsaran , Ahwaz and Aghajari.