b'STAATSOLIEHYDROCARBON INSTITUTEAs a state oil company, Staatsolie fulfills its regulatory role through our wholly owned subsidiary Staatsolie Hydrocarbon Institute N.V. (SHI). SHIs responsibilities include overseeing Basin Opportunity Management, Contract Acreage Management and Data Management. SHIs vision is to operate as a world-class regulator in a basin with multiple concessions in various stages of development and to eventually transition into an independent hydrocarbon institute.2021 SYNOPSISIn 2021, SHI continued optimizing internal processes to reach the world-class standards required to work effectively with IOCs. After last years advances in areas including data management and drilling operations processes, we made progress in 2021 in appraisal reporting, the field development plan process and PSC accounting.Another point of progress is aligning our areas of expertise with those of the Offshore directorate, merging resources and competencies to minimize duplication of functions. We work closely with the Offshore directorate to share expertise in geoscience, economic evaluation and other subjects.As mentioned in the Offshore section of this report, the awarding of a PSC as part of 48 STAATSOLIE 2021 ANNUAL REPORT'