b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2019 (Continued)4.2REFINING PROPERTIES (X US$ 1,000) Land & Lease hold Building and Machine & Abandonment Pipelines Other Fixed Projects in Progress Grand Total Improvement Structure Equipment Costs AssetsCostAt January 1, 20189,774 1,111,906 12,745 7,605 33,249 2,614 1,135 1,179,028 Additions - -29 59 3,984 4,072Adjustments*- -345 (3,302)- - -(2,957)CapitalizedfromPIPtoPPEandExpensedincurrentyear- - 100 - - - (100)- Disposals/Disinvestmentincurrentyear-(1,903) (54)- - -(1,957)At December 31, 20189,774 1,110,003 13,165 4,303 33,249 2,673 5,019 1,178,186 Additions -771 1,297- - 3219,920 22,020Adjustments*- - -3,767- - -3,767CapitalizedfromPIPtoPPE-1,298- - - -(1,298)- Disposals/Disinvestmentincurrentyear- - - - - - - - ExpensetoP&Lincurrentyear- - - - - -(407) (407)At December 31, 20199,774 1,112,072 14,462 8,070 33,249 2,705 23,234 1,203,566 DepreciationAt January 1, 2018(1,666)(190,964)(10,170)(529)(7,003)(2,566)- (212,898)Depreciationcurrentyear-(42,008) (1,180) (308) (1,240)(43)-(44,779)Adjustments/Usefullifepreviousyear**-11,497 (136) 345-487-12,193Depreciation/Disinvestmentincurrentyear-1,903 45- - - -1,948At December 31, 2018(1,666)(219,572)(11,441)(492)(8,243)(2,122)- (243,536)Depreciationcurrentyear-(42,729) (874) (173) (1,239) (108)-(45,123)At December 31, 2019(1,666)(262,301)(12,315)(665)(9,482)(2,230)- (288,659)Netbookvalue:At December 31, 20188,108 890,431 1,724 3,811 25,006 551 5,019 934,650 At December 31, 20198,108 849,771 2,147 7,405 23,767 475 23,234 914,907 *Adjustments to abandonment cost relates to changes in the decommissioning provision ** Includes adjustment to reverse depreciation recorded in previous years. Refer to Section 2.5 Restatement.80 STAATSOLIE 2019 ANNUAL REPORT'