[1] As a result of the agreement, the French Compagnie Française de Petroles (CFP)[a] acquired the 25% share held by Deutsche Bank in the Turkish Petroleum Company (TPC).
The other shareholders were (same as in 1914): the Anglo-Persian Oil Company (APOC), in which the British government held a controlling interest, with 47.5%, the Anglo Saxon Petroleum Co (wholly owned subsidiary of Royal Dutch-Shell), with 22.5% and the remaining 5% belonged to Calouste Gulbenkian.
The text of the agreement says nothing about Germany (early drafts did mention it), but grants to France the right to buy a 25% share in any future concession that may be obtained in Mesopotamia by either the British government or a private company.
It also says nothing about the composition of the remaining 75% of that entity, except that 20% should be made available out of both the French and British shares for acquisition by Iraqi nationals, a stipulation that was eventually not honored in the dealings with the Iraq government.
The newly reconstituted TPC then applied for a concession for Mesopotamian oil which was granted subject to various conditions at which point World War I intervened.