Page 230 - Pakistan Oilfield Limited - Annual Report 2022

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PAKISTAN OILFIELDS LIMITED

Notes to and Forming Part of the -
Consolidated Financial Statements

For the year ended June 30, 2022

14. DEVELOPMENT AND DECOMMISSIONING COSTS
Development Decommissioning Total
Cost Cost
Rupees ('000)
As at July 1, 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

Year ended June 30, 2021
Opening net book value 11,857,324 498,293 12,355,617
Additions 831,510 335,429 1,166,939
Disposals
Cost - (18,955) (18,955)
Accumulated amortization - 18,955 18,955
- - -
Revision due to change in estimates note 10.2.1 (43,667) 82,241 38,574
Wells cost transferred from 2,555,371 - 2,555,371
exploration and evaluation assets - note 15
Amortization for the year - note 27 (2,277,654) (166,172) (2,443,826)

Closing net book value 12,922,884 749,791 13,672,675
As at July 1, 2021

Cost 48,771,570 3,268,953 52,040,523
Accumulated amortization (35,848,686) (2,519,162) (38,367,848)

Net book value 12,922,884 749,791 13,672,675
Year ended June 30, 2022

Opening net book value 12,922,884 749,791 13,672,675
Additions 560,588 22,137 582,725
Disposals
Cost - (20,476) (20,476)
Accumulated amortization - 20,476 20,476
- - -
Revision due to change in estimates note 10.2.1 (147,697) (189,694) (337,391)

Amortization for the year - note 27 (3,534,368) (174,515) (3,708,883)
Closing net book value 9,801,407 407,719 10,209,126

As at June 30, 2022
Cost 49,184,461 3,080,920 52,265,381
Accumulated amortization (39,383,054) (2,673,201) (42,056,255)
Net book value 9,801,407 407,719 10,209,126