Page 28 - Pakistan Oilfields Limited - Annual Report 2021
P. 28
STRATEGIC FOCUS AND
FUTURE ORIENTATION
Pakistan Oilfields Limited is a full cycle management reporting system
exploration and production company. to improve visibility over key
Our focus is to grow shareholder operational areas and to assist
value by leveraging our development the management in strategic
capabilities and balance sheet to decision making.
deliver high quality projects while 5. Stakeholders
maintaining exposure to upside from Company is determined to meet
successful exploration. expectations of its stakeholders
The company’s strategic objectives including shareholders, JV
were reviewed in the meeting of partners, employees and
Directors. A process is already in Corporate Social Responsibility
place whereby long term strategies works for local communities
and annual operational plans in areas of the Company’s
established by management are operations.
regularly reviewed by the Directors The objectives and targets in each
in line with the Company’s overall focus area are also classified into;
business objectives. Following
are the strategic and management • short term (<2 years)
objectives: • medium term (2-7 years)
• long term (7-12 years)
1. Exploration & Production
The main focus in this area is Management Strategies to
on enhancement of reserves, Meet the Objectives
increase in production and
expansion of exploration For effective monitoring, following
activities. measures are adopted by the
2. POLGAS Marketing Management:
Focus is on delivering a quality • Monthly review meetings of the
LPG to end consumer in all parts senior management are held to
of Pakistan. make adjustments or alterations
3. Financial in course of actions, to achieve
Focus is on increasing the targets within specified time.
revenues through production • BEACON HR, a POL specific
enhancement, cost cutting and Self Service System has been
budgetary control measures where Supervisors can manage
along with increasing return to and develop their teams, assign
the shareholders. tasks and record feedback for
4. Internal Controls Company’s management review.
focus in this area is Business • Our strategy and legal
process re-engineering to obligation is to generate value
ensure effective controls for our shareholders. Taking
are in place and enriched consideration the capital needs
26 PAKISTAN OILFIELDS LIMITED
