b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2021 (Continued)Oil, Exploration and producing properties oftheimpairmentlossesof2020fortherefineryproperties were primarily the effect of the increase Thetotalreversalofthe2020impairmentlosses infutureoilpricesthatareexpectedtoberealized,ofUS$6,444wasrecognizedinrespectofOil, increaseduptimeoftherefineryoperationsexplorationandproducingproperties.Thetriggers andseveralinitiativesinreducingoperatingforthereversaloftheimpairmentlossesof2020 expenses.Therecoverableamountwasbasedonfor the oil producing properties were primarilymanagementsestimateoffairvaluelesscoststotheeffectoftheincreaseinfutureoilprices.The dispose.futureoilpricesareexpectedtoberealized.Inaddition,triggersarosefromincreasedefficiency Other property plant and equipmentinproducinghydrocarbonsfromtheoilfieldsresultinginreducedoperatingexpenses.The Thetotalreversalofthe2020impairmentlossesrecoverableamountwasbasedonmanagements ofUS$206wasrecognizedinrespectofotherestimateoffairvaluelesscoststodispose. propertyplantandequipment.Thetriggersforthereversaloftheimpairmentlossesof2020oftheseRefining properties properties were primarily the effect of the increase infutureoilprices.TherecoverableamountwasThetotalreversalofthe2020impairmentlosses basedonmanagementsestimateoffairvaluelessofUS$9,224wasrecognizedinrespectof costs to dispose.refineryproperties.Thetriggersforthereversal4.12 DISCONTINUED OPERATIONS VentrinPetroleumCompanyLimited(Ventrin) ThesaleofVentrinLimitedisexpectedtobeisalimitedliabilitycompanyincorporatedinthe completed within a year from the reporting date. RepublicofTrinidadandTobagoon7June1995. AtDecember31,2021,VentrinwasclassifiedasaVentrinis100%ownedbyStaatsolieMaatschappij disposal group held for sale and as a discontinued SurinameN.V.(Staatsolie).Ventrinisengaged operation. inbunkeringactivities,underanofficialbunkeringlicensereceivedinJune2009,supplyingfueland ThebusinessofVentrinwasrepresentedinthegasoiltoocean-goingvessels. GroupsdownstreamoperatingsegmentuntilDecember31,2020.WithVentrinbeingclassifiedIn2021,theStaatsolieSupervisoryBoardprovided asdiscontinuedoperations,itisnolongerapprovalforStaatsoliesmanagementtostartthe presentedinthedownstreamsegmentnote.Theprocess of sale for Ventrin.resultsofVentrinfortheyeararepresentedbelow:(X US$ 1,000) 2021 2020Sales 259 4,499Cost of Sales (218) (3,693)Gross Profit41 806 Other Income2 2 Operating expenses (807) (866)Administrativeexpenses (777) (433)Sellingandmarketingexpenses (25) (37)Operating loss(1,566)(528)Finance costs - net 8 (276)Impairment loss recognised on the remeasurement to (583)- fairvaluelesscoststosellLoss before Taxation(2,141)(804)Taxation (2) (27)Loss for the year from discontinued operations(2,143)(831)161'