Page 231 - Pakistan Oilfield Limited - Annual Report 2022

229
Annual Report 2022

14.1 Net book value at year end represents:
2022 2021
Rupees ('000)

Wholly owned fields 2,510,518 3,049,006
Joint operations 7,698,608 10,623,669
10,209,126 13,672,675
15. EXPLORATION AND EVALUATION ASSETS

Balance brought forward 512,223 2,773,514
Additions during the year 2,507,610 294,080
3,019,833 3,067,594
Wells cost transferred to development cost - note 14 - (2,555,371)
3,019,833 512,223

15.1 Break up of exploration and evaluation assets at
June 30 is as follows:
Share in joint operations operated by the Group
- DG Khan 2,979,667 512,223
- Bhandak 12,072
Share in joint operations operated by others

MOL Pakistan Oil and Gas Company B.V. Margala 28,094 -
3,019,833 512,223

16. OTHER INTANGIBLE ASSETS

Written down value 47,283 85,902
Addition 203,921 26,400
Less: Amortization for the year 61,265 65,019

189,939 47,283
Useful lives (years) 1-5 1-5

16.1 Intangible assets and addtitions represents amounts paid / present value of amount payable by
CAPGAS to LPG producing companies against renewal fees of LPG supplies of 5 M.Tons/day. Amount
payable have been discounted at one year KIBOR rate.