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NOTES TO AND FORMING
PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2020
220
PAKISTAN OILFIELDS LIMITED
15.
DEVELOPMENT AND DECOMMISSIONING COSTS
Development
Decommissioning
Total
Cost
Cost
Rupees ('000)
As at July 1, 2018
Cost
39,505,944
2,831,639
42,337,583
Accumulated amortization
(27,330,283)
(2,410,580)
(29,740,863)
Net book value
12,175,661
421,059
12,596,720
Year ended June 30, 2019
Opening net book value
12,175,661
421,059
12,596,720
Additions
1,522,774
48,385
1,571,159
Disposals
Cost
-
(140,708)
(140,708)
Accumulated amortization
-
140,708
140,708
-
-
-
Revisiondue to change inestimates note 10.2.1
(748,330)
(271,192)
(1,019,522)
Well Cost transferred from
exploration and evaluation assets - note 16
1,679,562
-
1,679,562
Amortization for the year
(3,743,516)
(30,817)
(3,774,333)
Closing net book value
10,886,151
167,435
11,053,586
As at July 1, 2019
Cost
41,959,950
2,468,124
44,428,074
Accumulated amortization
(31,073,799)
(2,300,689)
(33,374,488)
Net book value
10,886,151
167,435
11,053,586
Year ended June 30, 2020
Opening net book value
10,886,151
167,435
11,053,586
Additions
3,472,391
173,660
3,646,051
Disposals
Cost
-
(50,513)
(50,513)
Accumulated amortization
-
50,513
50,513
-
-
-
Revisiondue to change in estimates note 10.2.1
(3,985)
278,967
274,982
Amortization for the year
(2,497,233)
(121,769)
(2,619,002)
Closing net book value
11,857,324
498,293
12,355,617
As at June 30, 2020
Cost
45,428,356
2,870,238
48,298,594
Accumulated amortization
(33,571,032)
(2,371,945)
(35,942,977)
Net book value
11,857,324
498,293
12,355,617