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Pakistan through Ministry of Energy (Petroleum Division), Islamabad. The Honorable
Islamabad High Court after hearing the petitioner on February 20, 2018, directed the parties
to maintain the status quo in this respect. The case came up for hearing on June 12, 2019 but
was adjourned on the request of legal counsel of the Government. The Islamabad High Court
has fixed October 22, 2019 as next date of hearing.
On prudent basis additional revenue (net of sales tax) on account of enhanced gas price
incentive due to conversion from Petroleum Policy 1997 to Petroleum Policy 2012 since
inception to September 30, 2019 amounting to Rs 11,309,795 thousand will be accounted for
upon resolution of this matter. Additional revenue on account of enhanced gas price incentive
of Rs 12,509,806 thousand including sales tax of Rs 1,817,664 thousand received from
customer on the basis of notified prices has been shown under "trade and other payables".
Operating cost - Own fields
349,256
- Share in joint ventures
671,662
Well workover
392,186
POLGAS/CAPGAS -Cost of gas/LPG, carriage etc.
1,174,291
Head office and insurance charges
335
Pumping and transportation cost
8,742
Depreciation
416,000
3,012,472
Opening stock of crude oil and other products
320,152
Closing stock of crude oil and other products
(339,762)
2,992,862
Geological & geophysical cost
86,776
Dry and abandoned wells cost charged to
exploration cost
644,489
731,265
Provision for decommissioning costs
- unwinding of discount
189,375
- exchange (gain)/loss
210,910
Banks' commission and charges
1,459
401,744
17. Operating costs
304,837
772,019
46,629
986,604
284
12,789
408,545
2,531,707
313,921
(413,698)
2,431,930
18. Exploration costs
375,831
-
375,831
19. Finance costs
401,796
(263,726)
673
138,743
Three months period ended
Rupees
(’000)
Sep 30, 2019
Sep 30, 2018
Notes to and forming part of the condensed interim
Consolidated Financial Statements (Unaudited)
For the three months period ended September 30, 2019
37