b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2018 (Continued)6.2 TRADE AND OTHER RECEIVABLES (X US$ 1,000) 2018 2017Tradereceivables 122,824 107,248Prepaymentsandothercurrentassets* 17,763 23,274140,587 130,522*Refertoparagraph2.5ReclassificationFortermsandconditionsrelatingtorelatedpartyreceivables,refertoNote7.Tradereceivablesarenon-interestbearingandaregenerallyontermsof3090daysnetofallowanceforexpectedcreditlosses.Movementsintheallowanceforexpectedcreditlossesoftradereceivables:(X US$ 1,000) 2018 2017As at January 1 7,981 11,288Addition 1,051 813Amounts written off (267) (687)Unused amounts reversed(935) (3,433)As at December 31 7,8307,981 Theageinganalysisofthetradereceivables(netofallowanceforexpectedcreditlosses)is,asfollows:Past due but not impairedNeither past due nor 30-6061-9091-120 (X US$ 1,000) Totalimpaired < 30 days days days days >120 days2018 122,824 80,653 10,965 6,806 2,764 2,171 19,4652017 107,248 30,490 8,845 9,614 1,339 2,674 54,286TheaccountsreceivableamountofUS$122,824 toGoSatDecember31,2018.AftertheseasatDecember31,2018consistsofabalanceof settlements,thenetreceivablebalancefromGoSUS$88,446forthedeliveryofelectricitytoGoS amountstoUS$5,200.and oil deliveries to N.V. EBS (GoS Receivables) andothertradereceivablesofUS$34,378.The In determining the recoverability of a trade or outstandingpayabletoPDVSAPetrleo,S.A. otherreceivable,theGroupperformsarisk(PDVSA)amountingtoUS$49,144hasbeen analysis considering the type and age of the usedasasettlementwiththeGoSReceivables, outstanding receivable and the creditworthiness basedonthewrittenconfirmationfromGoSthatall ofthecounterparties.TheGroupdoesnottrackpayment obligations of Staatsolie due to PDVSAchangesincreditrisk,butinsteadrecognizesalosspursuant to the contract will be assigned to GoS.allowance based on lifetime ECLs at each reporting TheremainderoftheGoSReceivablesamounting date.TheGrouphasestablishedaprovisionmatrixtoUS$39,551willbesettledbyapplyingthe thatisbasedonitshistoricalcreditlossexperience,amounts payable (income tax and dividend)adjustedforforward-lookingfactorsspecifictothedebtors and the economic environment.114 STAATSOLIE 2018 ANNUAL REPORT'