Page 191 - Pakistan Oilfield Limited - Annual Report 2022

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Annual Report 2022

42. NON-ADJUSTING EVENT AFTER THE STATEMENT OF FINANCIAL POSITION DATE
The Board of Directors in its meeting held on August 16, 2022 has proposed a final dividend for the
year ended June 30, 2022 @ Rs 50 per share, amounting to Rs 14,192,755 thousand for approval of
the members in the Annual General Meeting to be held on September 20, 2022.
43. GENERAL
43.1 IMPACT OF COVID - 19 ON THE FINANCIAL STATEMENTS

The spread of Covid - 19 as a pandemic and consequently imposition of lock down by Federal
and Provincial Governments of Pakistan (Authorities) caused an overall economic slow down at
the start of 2020. This resulted in decrease in international prices of petroleum products, which
have now recovered. As at year end, there is no material adverse impact to the business, financial
conditions and results of operations. Management will continue to monitor the potential impact
and will take all steps possible to mitigate any effects.

43.2 Capacity
Following is production from the Company's fields including proportionate share from all operated
and non-operated joint ventures:

Product Unit 2022 2021
Crude Oil US Barrels 2,017,581 2,264,413
Gas Million Cubic Feet 25,825 28,596
LPG Metric Tonnes 55,418 56,660
Sulphur Metric Tonnes 475 428
Solvent Oil US Barrels 18,605 16,658

Considering the nature of the Company's business, information regarding installed capacity has no
relevance.

43.3 Number of employees 2022 2021
Total number of employees as at June 30 694 702
Total number of employees at fields as at June 30 511 514
Average number of employees during the year 700 718
Average number of employees at fields during the year 514 527

43.4 Figures have been rounded off to the nearest thousand of rupees, unless otherwise stated.

43.5 Date of authorization

These financial statements were authorized for issue by the Board of Directors of the Company on
August 16, 2022.

Khalid Nafees Shuaib A. Malik Abdus Sattar
Chief Financial Officer Chief Executive Director