The oil belongs to Saudi. The infrastructure, the exploration, development costs and the production and maintenance costs are met by the Western, (usually American) partner, those are the terms, always have been, always will. The owner of the oil takes 51% of the profit and the Western partner gets the balance after deductions, still enough to maintain their continued interest.
Or, how about a free Middle East, no longer governed by corrupt dictators or medieval monarchic dynasties supported by the West, but free independent democracies who bow to the will of the people?
Oh how I laughed!
I think you are probably what is generally known as a 'theory man' pr00ne.