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Selected notes to and forming part of the Condensed Interim
Consolidated Financial Information (Unaudited)
For the six months period ended December 31, 2016
36
18. Net sales
3,174,792
5,593,952
2,319,673
4,410,577
1,743,269
3,070,038
31,669
64,236
-
-
7,269,403
13,138,803
18.1.
19. Operating costs
318,331
618,646
486,191
1,145,188
76,323
122,636
962,974
1,752,789
9,636
16,060
394,444
786,672
2,247,537
4,441,991
436,264
380,087
(451,033)
(451,033)
2,232,768
4,371,045
Crude oil
2,634,774
5,152,198
Gas - 18.1
2,175,028
4,129,131
POLGAS/Cap Gas - Refill of cylinders
1,844,739
3,249,833
Solvent oil
54,538
106,634
Sulphur
-
4,861
6,709,079
12,642,657
The Company has signed the Supplemental Agreements with the Government of Pakistan
(the Government) for conversion of Petroleum Concession Agreements (PCA) to Petroleum
Exploration & Production Policy 2012 in respect of Ikhlas, DG Khan, Kirthar South, Margala,
Margala North, Gurgalot and Tal Block. Price regimes prevailing in Petroleum Policy 2007,
PetroleumPolicy 2009 and PetroleumPolicy 2012 shall be applicable correlated with the spud
date of wells in the respective policies starting from November 27, 2007 and for future
exploratory efforts under the abovementioned blocks.
In terms of supplemental agreements, draft statements specifying sums aggregating US $
34.39 million till June 30, 2015 due to the Company in respect of Mamikhel, Maramzai &
Makori East discoveries in TAL block and Domial discovery in Ikhlas block have been
submitted to the Government. The Government shall facilitate issuance of necessary gas
price notifications and payments to be made to the parties within twelve months of the
statements being finalized. Effect of adjustment arising from revision in sale price will be
recognised upon finalization of the statements and issuance of gas price notifications by the
Government.
Operating cost
- Own fields
262,696
497,130
- Share in joint ventures
751,898
1,452,843
Well workover
97,473
249,833
POLGAS/Cap Gas -Cost of gas
/LPG, carriage etc
983,059
1,899,340
Pumping and transportation cost
7,920
19,913
Depreciation
348,141
684,264
2,451,187
4,803,323
Opening stock of crude oil
and other products
216,657
166,109
Closing stock of crude oil
and other products
(170,427)
(170,427)
2,497,417
4,799,005
Six months period ended
Three months period ended
Rupees ('000)
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2015
Dec. 31, 2016
Six months period ended
Three months period ended
Rupees ('000)
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2015
Dec. 31, 2016