b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2020 (Continued)4.11 IMPAIRMENT TESTING OF OTHER NON-CURRENT ASSETSTheGrouphasassessedtherecoverableamountofitscash-generatingunitasperthemethodologydescribedinthesummaryofsignificantaccountingpolicies(section2.3)andthescenarioconsistentwithitsviewofdevelopingtheoilreservesinthecurrentfieldsinthecomingyears,investmentstrategyandfutureprices.Themainassumptionsaredescribedbelow:a) Future price developmentIn2020,inviewofthesituationinthecommoditymarkets,thesocialandeconomicconsequencesoftheCOVID-19pandemic,theGrouprevieweditsexpectationsoffutureoilprices.Itshouldbenotedthattheseestimatesweremadeinanenvironmentofhighuncertainty,markedbythescenariosemergingfromtheCOVID-19crisis.Fortheimpairmentassessmentofthelong-livedassetsfromtheGroup,thelongtermPirareferencepriceNYH1%wasusedfortheproductbasket:US$/bbl 2021- 2021 2022 2023 2024 2025 2026 2027-2044 2044Crude: 54.5 67.28 53.6 51.01 49.68 46.86 47.35 55.12Gasoline: 81.22 81.2 72.4 74.6 74.2 71.2 73.3 86.1USLD: 82.13 79.69 72.09 71.94 71.9 70.04 71.41 85.22b) Discount ratesThepost-taxdiscountrateof10.17%usedbyStaatsolieistheweightedaveragecostofcapital(WACC)aftertax.Thisrateseekstoreflectcurrentmarketassessmentsregardingthetimevalueofmoneyandthespecificrisksofthebusiness.Therefore,thediscountrateused,considerstherisk-freerate,thecountryrisk,thecurrencyinwhichthecashflowsaregeneratedandthemarket,credit,andbusinessrisk.TheWACCconsidersbothdebtandequity(weighted50%).Applyingapre-taxWACCdiscountrate15.19%tothecashflowprojectionsprovidesthesameresult.c)ImpairmentrecognizedIn2020impairmentchargeshavebeenrecognizedfortheGroupsassetsinthestatementoffinancialposition:(X US$ 1,000)Oil,Explorationandproducingproperties 7,348Refiningproperties 9,233Otherpropertyplantandequipment 206 16,787 136 STAATSOLIE 2020 ANNUAL REPORT'