b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2019 (Continued)SECTION 1. TosecuretheenergysupplyofSurinameandtoCORPORATE AND GROUP INFORMATION establish a solid position in the regional market.Toexpandourreputationbasedonourgrowth1.1 CORPORATE INFORMATION performance,flexibilityandcorporatesocialresponsibility.Theconsolidatedfinancialstatementsofthe Itsvaluesare:Group,whichcompriseStaatsolieMaatschappijSurinameNV(Staatsolie,astheparent)andall 1.H SECFocused:Weputhealthandsafetyitssubsidiaries,fortheyearendedDecember31, first,striveforzeroharmtoourpeopleandthe2019,wereauthorizedforissueinaccordance communitiesaroundus,andminimizenegativewitharesolutionoftheSupervisoryBoardon impactsupontheenvironment.April14,2020.Staatsolie is a limited liability company2.Integrity:WearehonestanddowhatwesayweincorporatedanddomiciledinSurinamewhose willdo.sharesaresolelyownedbytheGovernmentof 3.P eopleFocused:WecreateasupportiveandSuriname(GoS).Theregisteredofficeislocatedat collaborativeenvironment,respecteachother,Dr.Ir.H.S.Adhinstraat21,Paramaribo,Suriname. areopentoothersideasandfacilitatepersonalStaatsolie (the Company) is an integrated oilandprofessionalgrowth.companyintheRepublicofSurinameofwhich 4.E xcellence:Wesethighstandardsforquality,theintegratedactivitiesincludeexploration, strivetoexceedexpectationsanddoourworkproduction,refining,marketinganddistributionof withasenseofurgency.petroleum and retail products. 5.Accountability:WeacceptresponsibilityforourThroughitssubsidiary(SPCS),Staatsolieis jobandactions,arecooperative,andcreateaengagedinthermalelectricpowergeneration. non-blamingenvironment.TheGroupsstructureandotherrelatedpartyrelationshipsispresentedinsection7-Groupinformation and related party disclosures.1.2 GROUP INFORMATION Staatsoliesvisionis: Staatsoliehasfour(4)subsidiariesofwhichthree(3)arewhollyowned:ParadiseOilCompanyN.V.Leadingthesustainabledevelopmentof (POC)andGOw2EnergySurinameN.V.(GOw2)Surinamesenergyindustry. incorporatedintheRepublicofSurinameandVentrinPetroleumCompanyLimited(Ventrin),aMakingastrongcontributiontotheadvancement bunkeringcompanyincorporatedintheRepublicof our society. ofTrinidadandTobago.Becomingaregionalplayerwithaglobalidentity Staatsolieholds102,999outof103,000sharesin the energy sector. oftheStaatsoliePowerCompanySurinameN.V.Staatsoliesvisionis: (SPCS),incorporatedintheRepublicofSuriname,and the local electricity company Energie Leadingthesustainabledevelopmentof BedrijvenSurinameN.V.(N.V.EBS)holdsoneSurinamesenergyindustry. share.Makingastrongcontributiontotheadvancement POCis,atthemoment,adormantcompany.Inof our society. June2015,POCsoperationswereputonholdandthecompanydidnothaveanyactivityduringBecomingaregionalplayerwithaglobalidentity thereportingperiodof2019.in the energy sector. Furthermore,sinceNovember2014,todate,Staatsoliesmissionis: Staatsoliehasaparticipatinginterestof25%intheSurinameGoldProjectCV(Surgold),alimitedT partnershipcreatedbetweenNewmontSurinameodevelopSurinameshydrocarbonpotentialoverthefullvaluechain,togenerateelectricity LLCandStaatsolie.andtodeveloprenewablesustainableenergy Information on other related party relationships of resources. Staatsolieanditssubsidiariesisfurtherprovidedinsection7.40 STAATSOLIE 2019 ANNUAL REPORT'