· in 1949 , jean paul getty inked a contract with the king of saudi arabia to explore oil in the kingdom. But getty proved he was an “ oil man” in the middle east, where he felt he needed reserves to mold an integrated oil empire. Getty had production and a refinery in the neutral zone between saudi arabia and kuwait, another refinery in italy, a wholesale marketing organization in europe, and crude- oil markets,. · in the summers between his school years, j. Paul worked his fathers oil fields in oklahoma. Paul getty purchased an oil concession from abdulaziz bin abdul rahman al saud, king of saudi arabia. By the time he was 22 years old he was brokering oil leases on his fathers behalf. Getty paid $9. 5 million in cash, guaranteed $1 million a year, and a royalty of 55 cents a barrel. Paul getty died in 1976. In 1949 he bought the oil rights to saudi arabia’s 50%. In 1948- 1949 , j. Paul getty acquire his wealth? For four years and with more than $30 million spent, no oil was found but he persevered. Starting in 1949 , j. How much did j paul getty pay for oil? What was j paul gettys estate worth when he died? In 1949 , the daring getty paid $9. 5 million for a sixty-year concession in saudi arabia’s half of the neutral barren tract lying between saudi arabia and kuwait. Gordon getty and his family inherited a 40% interest in the company when j. Who was j paul getty? Paul getty negotiated a 30-year concession in the neutral zone between saudi arabia and kuwait.
