b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2020 (Continued)4.9 PROVISIONS(X US$ 1,000) Decommissioning Decommissioning Decommissioning Environmental Decommissioning Other Totalproduction field & facilities Refinery Power Plant Risk Pikin Saramacca (30% share) ProvisionsAt January 1, 2019 54,836 6,669 119 2,996-2,818 67,438Arising during the year - - - - -80 80Discountrateadjustment&54,956 3,768141 - - -58,865imputed interestUnwinding of discount5,635 6751268- -6,390Translationadjustment- - -(6)- -(6)Utilisation- - - - -(625) (625)At December 31, 2019115,427 11,112 272 3,058 - 2,273 132,142 Arising during the year - - - -732-732Discountrateadjustment&(55,681) 2,318122 - - -(53,241)imputed interestUnwinding of discount9,026 85321(358)- -9,542Translationadjustment- - -6-(39)(33)Utilisation- - - - -(822) (822)At December 31, 202068,772 14,283 415 2,706 732 1,412 88,320 Comprising:CurrentatDecember31,2019- - - - - - - Non-currentatDecember31,2019 115,427 11,112 272 3,058-2,273 132,142 115,427 11,112 272 3,058 - 2,273 132,142 Comprising:CurrentatDecember31,2020- - - - - - - Non-currentatDecember31,2020 68,772 14,2834152,706 732 1,412 88,320 68,772 14,283 415 2,706 732 1,412 88,320 Decommissioning provision Lastly,theGroupmakesfullprovisionforthefuturecost of decommissioning the power plant on a TheGroupmakesfullprovisionforthefuture discounted basis on the installation of the power cost of decommissioning oil wells and productionplant.Thedecommissioningprovisionrepresentsfacilities on a discounted basis on the installationthe present value of decommissioning costs ofthosewellsandfacilities.Thedecommissioning relatingtothepowerplant,whichareexpectedprovision represents the present value oftobeincurredupto2055,whenthepowerplantdecommissioning costs relating to oil and gasisexpectedtoceaseoperations.Thisprovisionproperties,whichareexpectedtobeincurredup hasbeencreatedbasedontheGroupsinternalto2075,whentheproducingoilpropertiesare estimatesutilizingathirdpartyestimatingtheexpectedtoceaseoperations.Theseprovisions dismantlement cost.havebeencreatedbasedontheGroupsinternalestimates. Assumptions based on the current economic environmenthavebeenmade,whichmanagementInaddition,theGroupmakesfullprovisionforthe believes form a reasonable basis upon which futurecostofdecommissioningtherefineryona toestimatethefutureliability.Theseestimatesdiscountedbasisontheinstallationoftherefinery. are reviewed regularly to consider any material Thedecommissioningprovisionrepresentsthe changestotheassumptions.However,actualpresent value of decommissioning costs relatingdecommissioning costs will ultimately depend totherefinery,whichareexpectedtobeincurred upon future market prices for the necessary upto2040,whentherefineryisexpectedtocease decommissioningworksrequiredthatwillreflectoperations.Thisprovisionhasbeencreatedbased marketconditionsattherelevanttime.Furthermore,ontheGroupsinternalestimatesutilizingathird the timing of decommissioning is likely to depend on party estimating the dismantlement cost. whenthefieldsceasetoproduceateconomicallyviablerates.This,inturn,willdependuponfutureoilandgasprices,whichareinherentlyuncertain.106 STAATSOLIE 2020 ANNUAL REPORT'