b'our Shallow Offshore Bid Round was a major milestone. This contract allows Staatsolie to participate as a non-operating partner with a 40 percent stake for the first time. Additionally, the PSC requires no exploration expenditurePROJECTING exposure from Staatsolie. SUCCESS:In 2021, the major Block 58 discoveries of 2020For SHI, we will measure our entered the appraisal phase, with three appraisalfuture success by how well we help utilize our nations wells and one exploration well drilled. Notablehydrocarbon resources for was the drill stem test at the Sapakara South-1the betterment of Surinames appraisal well, which encountered approximatelysociety.ANGELE RAMSARANSINGH-KARG30 meters of net black oil reservoir, renewing theDirector Staatsolie Hydrocarbon focus for expediting the first offshore development. Institute N.V. Other noteworthy deep-water events: Tullow Oil relinquished their interests in Blocks 47, 54 and 62, and Kosmos Energy relinquished Block 45 and sold its assets in Block 42 to Shell. See the Offshore section of this report for an overview of 2022 deep-water activities.One important aspect of supervising PSCs is monitoring and evaluating IOCs local content commitment and their performance in giving preference to local suppliers, material, and employment. SHI works with IOCs to support education, capacity building and enterprise development projects. Staatsolie believes it is 2021KEY FOCUSessential that our nations hydrocarbon resourcesOptimizing our contract management economically benefit all elements of Surinamesecapabilities, with a focus on appraisal and development phase aspects, to society, and our commitment is evidenced inprepare for Block 58 developments.the establishment of a Local Content Taskforce devoted to supplier development and education.S CU KEY FO Further improving processes, with 2021 KEY FIGURES a focus on optimizing our Field Development Plan expertise and 2022 providing leadership in promoting the PSC signed with Chevron for Shallow Offshoreenergy transition to natural gas.Block 5, including US$ 31M sign-on bonus.49'