b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2018 (Continued)4.7 PROVISIONS(X US$ 1,000) Decommissioning productionDecommissioning Decommissioning Environmental Other Totalfield & facilities Refinery Power Plant Risk ProvisionsAt January 1, 2017 40,062 5,539 98 2,588 1,600 49,887Arising during the year- - -1571,758 1,915Write-backofunusedprovisions - - - - -Discountrateadjustment&imputedinterest 35,242 2,776 101 36 - 38,155Unwinding of discount 4,118 569 10 - - 4,697Utilisation - - - - (1,600) (1,600)At December 31, 201779,422 8,884 209 2,781 1,758 93,054 Arising during the year 7- - - 1,126 1,133Write-backofunusedprovisions - - - - - -Discountrateadjustment&imputedinterest (31,251) (2,959) (107) 48 - (34,269)Unwinding of discount6,658744 17167 - 7,586Utilisation - - - - (66) (66)At December 31, 201854,836 6,669 119 2,996 2,818 67,438 Comprising:CurrentatDecember31,2017 - - - - - -Non-currentatDecember31,2017 79,422 8,884 209 2,781 1,758 93,054 79,422 8,884 209 2,781 1,758 93,054 Comprising:CurrentatDecember31,2018 - - - - - -Non-currentatDecember31,2018 54,836 6,669 119 2,996 2,818 67,438 54,836 6,669 119 2,996 2,818 67,438 Decommissioning provision ontheGroupsinternalestimatesutilizingathirdparty estimating the dismantlement cost.TheGroupmakesfullprovisionforthefuture cost of decommissioning oil wells andLastly,theGroupmakesfullprovisionforthefutureproductionfacilities,onadiscountedbasison costofdecommissioningthepowerplant,onathe installation of those wells and facilities.discounted basis on the installation of the power Thedecommissioningprovisionrepresentsthe plant.Thedecommissioningprovisionrepresentspresent value of decommissioning costs relatingthe present value of decommissioning costs tooilandgasproperties,whichareexpectedto relatingtothepowerplant,whichareexpectedbeincurredupto2055,whentheproducingoil tobeincurredupto2055,whenthepowerplantproperties are expected to cease operations.expectedtoceaseoperations.ThisprovisionTheseprovisionshavebeencreatedbasedon hasbeencreatedbasedontheGroupsinternaltheGroupsinternalestimates. estimatesutilizingathirdpartyestimatingthedismantlement cost.Inaddition,theGroupmakesfullprovisionforthefuturecostofdecommissioningtherefinery,ona Assumptions based on the current economic discountedbasisontheinstallationoftherefinery. environmenthavebeenmade,whichmanagementThedecommissioningprovisionrepresentsthe believes form a reasonable basis upon which present value of decommissioning costs relatingtoestimatethefutureliability.Theseestimatestotherefinery,whichareexpectedtobeincurred are reviewed regularly to take into account any upto2040,whentherefineryexpectedtocease materialchangestotheassumptions.However,operations.Thisprovisionhasbeencreatedbased actual decommissioning costs will ultimately 80 STAATSOLIE 2018 ANNUAL REPORT'