Page 160 - Pakistan Oilfield Limited - Annual Report 2022

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PAKISTAN OILFIELDS LIMITED
Notes to and Forming Part of the

Financial Statements

For the year ended June 30, 2022

2022 2021
Rupees ('000)

9.2 Provision for decommissioning costs

Balance brought forward 14,389,227 14,089,542
Revision due to change in estimates - note 9.2.1 (727,537) (193,498)
Provision made during the year 22,137 335,429
Unwinding of discount 1,258,353 1,123,961
Exchange loss / (gain) 4,282,697 (869,170)
Decommissioning cost incurred during the year (101,446) (97,037)
19,123,431 14,389,227

9.2.1 Revision due to change in estimates
(Credited) / charged to related asset - note 13 (337,391) 38,574
Revision in excess of related asset credited to
statement of profit or loss - note 24 (390,146) (232,072)
(727,537) (193,498)
10. TRADE AND OTHER PAYABLES

Creditors 377,790 451,264
Due to related parties
Attock Hospital (Pvt) Limited 2,667 3,234
Attock Petroleum Limited 83,623 23,314
Capgas (Pvt) Limited 855 230
Attock Energy Private Limited - 1,239
Attock Refinery Limited 10,401 10,462
National Refinery limited 601 8,292
Attock Leisure and Management Associates (Private) Limited 857 491
Management Staff Pension Fund - note 35 169,593 126,441
Staff Provident Fund 1,663 -
General Staff Provident Fund 312 -
Workers' Profit Participation Fund - note 10.1 1,544,079 1,156,615
Due to joint operating partners
The Attock Oil Company Limited 8,490 35,838
Others 1,435,659 905,978
Accrued liabilities 2,953,120 2,275,670
Contract liabilities - advances from customers 73,008 63,326
Royalty payable to Government of Pakistan 901,299 582,863
Excise duty payable 576 3,940
Petroleum levy payable 17,716 13,671
Workers' Welfare Fund payable 1,178,273 1,067,834
Liability for staff compensated absences 16,707 15,239
Other liabilities - note 10.2 22,278,874 18,949,452
31,056,163 25,695,393