b'The 2020-2027 investment program is intended to achieve the following key objectives: Maintain a reserve replacement ratio of at least 1 on a 5-year rolling average basis, by implementingnew/secondary techniques to improve the recovery of oil onshore. Sustain crude production at 6 million barrels per year via new production wells and smart field projectsusing Information Technology to control the wells, reducing costs and increasing efficiency. Gradually increase the production of ultra-low sulfur diesel and gasoline from 2.8 million to 3.4 millionbarrels on an annual basis. Add the Afobaka Hydro Dam to the power generating assets of SPCS thereby increasing Staatsoliespower generation capacity from 30% to 75% of Surinames total energy consumption. Maintain the 25% participation in the Merian Partnership with Newmont, fund associated capitalexpansions in the new Sabajo mine. Further expand Staatsolies interest in gold mining by acquiring a 30% participation in the Saramaccagold mine of IAMGOLD Rosebel Goldmines.As we seek to capitalize on current and future significant offshore oil finds, we are also anticipating on future listing of bonds and shares on the internationally renowned stock exchanges, aiming to raise between approximately US$ 1 billion and US$ 2 billion.Improving StructureIt is imperative that the organizational structure, systems and processes of our finance operations enable the new development that will come with offshore oil finds and the need for capital from the international capital markets.Structural changes to be implemented include: Transition the finance organization towards a world class Target Operating Model. The appointment of a corporate controller who has company-wide supervision over external reporting,internal management reporting and taxes, including all subsidiaries. The implementation of shared services, centralizing accounts payable and receivable for the corporationincluding all subsidiaries. Establish Group Investor Relations and a centralized Treasury Function.Establish a best practice internal control and governance framework. We continue to engage Ernst & Young to audit our financial statements in accordance with the International Financial Reporting Standards (IFRS).Sales and revenues for 2019 breakdown is as follows:SALES AND REVENUE2019 2018x 1,000 Bbls x US$ 1MM x 1,000 Bbls x US$ 1MMFuel Oil & Crude2,838185 2,523 175 Diesel1,884167 1,963 188 Gasoline6075964065 Bitumen493 22 2 Other 2042217519 Total 5,5824365,323449 Electric Energy in MWh 433,472 63 438,388 57Total revenues 500 50612 STAATSOLIE 2019 ANNUAL REPORT'