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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, 2017
from Petroleum Policy 1997 to Petroleum Policy 2012 for the period July 1, 2015 to June
30, 2017 previously accounted for amounting to Rs 2,225million has b e e n r e v e r s e d .
Similarly, effect of related adjustment for the period July 1, 2017 to December 31, 2017
amounting to Rs 786 million has also been reversed. Entire revenue on account of
enhanced gas price incentive of Rs 6,404 million till December 31, 2017 related to
conversion of TAL Block from Petroleum policy 1997 to Petroleum policy 2012 will be
accounted for upon resolution of this matter as per the accounting policy of the Company.
Operating cost
- Own fields
318,331
618,646
- Share in joint ventures
486,191
1,145,188
Well workover
76,323
122,636
POLGAS/Cap Gas -Cost of gas /
LPG, carriage etc.
962,974
1,752,789
Pumping and transportation cost
9,636
16,060
Depreciation
394,444
786,672
2,247,537
4,441,991
Opening stock of crude oil and
other products
436,264
380,087
Closing stock of crude oil and
other products
(451,033)
(451,033)
2,232,768
4,371,045
Geological and geophysical cost
125,834
190,331
Provision for decommissioning cost
- unwinding of discount
189,604
379,208
- exchange loss
4,668
9,337
Banks' commission and charges
838
1,494
195,110
390,039
19. Operating costs
294,717
624,542
651,991
1,209,092
(24,516)
(28,551)
1,078,275
1,895,812
10,402
17,882
385,716
768,823
2,396,255
4,487,600
216,094
245,060
(251,122)
(251,122)
2,361,227
4,481,538
20. Exploration costs
467,960
740,408
21. Finance costs
96,740
247,572
389,485
426,027
817
1,843
487,042
675,442
Six months period ended
Three months period ended
Rupees ('000)
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2016
Dec. 31, 2017