PPL Annual Report essay

Practices of the Code of Corporate 101 Auditors’ Report to the Members 102 Financial Statements 157 Map of Pulp’s Held Interests 161 List of Producing and Exploration Assets 162 List of Abbreviations 163 Shareholders and Investors Information 164 Pattern of Shareholding 170 Notice of Annual General Meeting Form of Proxy Vision To maintain Pulp’s position as the premier producer of hydrocarbons in the country by exploiting conventional and unconventional oil and gas resources, resulting in value addition to shareholders’ investment and the nation as a whole.

Mission To sustain long term growth by urging an aggressive hydrocarbons exploration and production optimization program in the most efficient manner through a team of professionals utilizing the latest developments in technology, while ensuring that quality is an integral part of all operations and maintaining the highest standards of health, safety, environment protection and addressing community development needs. Fast-track exploration and development activities across its local assets resulted in a production increase from company-operated assets, a first in recent history, and considerable reduction in the decline rate of

Sue Gas Field. All 18 PL-operated blocks, of which six are in Balloonists, are active and in various stages of exploration. To supplement these efforts, PL has also initiated an aggressive acquisition drive for a multiplier effect and recently won exploration rights for a block in Iraq as operator. On commencement of work in Iraq, PL will become the first local E&P company to operate an international exploration block. The company has been selected as preferred bidder and is carrying out negotiations for acquisition of MIND Exploration and Production Limited (MIND), a wholly owned subsidiary of

KICK SE, one of the largest, privately owned groups in the Czech Republic. Growth Core values Recognize that Leadership, Empowerment and Accountability are essential for corporate success. Pursue the Highest Standards of Ethical Behavior and Integrity. Consider our people as the most important resource. Value creativity and innovation. Committed to excellence in all spheres of performance. Work as a Team and advocate Teamwork. Respect the Environment and remain committed to its protection.

Integrate, create value and strategically transit towards expansion f its operations beyond the national borders Focus on integrated value creation and seek innovative solutions while ensuring quality as an integral part of operations Replenishment of the depleting reserves and production optimization from the existing fields and new discoveries Evaluate various significant projects in the energy sector Corporate Strategy Training of employees and contractors for enhancing safety awareness and active incorporation of industry best practices in the overall operating sets p Investment in research and innovation giving due importance to CA management Invest in people o build organizational cap ability Leverage the available financial resources and project skills Development of the communities where it operates.

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