b'FinanceStaatsolies Finance directorate is playing a key role in the companys evolutionintoaworld-classenterprise.Withthefinancialstrengthandinternalprocesses in place to effectively partner with international oil companies and investors,StaatsolieiswellpositionedtobenefitfromSurinamessignificantoffshore hydrocarbon resources. The directorate also oversees Staatsolies 2020-2027 investment program.1) Maintain a reserve replacement ratio of at FOCUS ONleast 1 on a 5-year rolling average basis for our THE FUTURE: onshore oil production.Successfully Introducing2) Sustain onshore crude production at 6 million Staatsolie to the World barrels per year. 3) Increase production of ultra-low sulfur diesel and gasoline. In2020,Staatsolietookitsfirstsmallbut 4)IntegratetheAfobakaHydroDamtooursuccessful step in introducing internationalpower generating assets. investors to the company. On 23 March, Staatsolie issued a US$ 150 million bond5) Maintain existing and participate in new in Suriname and Curaao. The bond,developments including new gold investments.internationally listed on the Dutch CaribbeanStaatsolie s investment in gold proved to be a Securities Exchange (DCSX), raised US$solid one. Staatsolie realized US$ 103 million in 195,067,000morethanUS$45millionover net cash from our gold investments in 2020.the target of US$ 150 million.The aim of the 2020-2025/2027 bondourThe number one attraction for international firstinternationalbutthirdoverallincluded investors going forward is the enormous the renewal of the Staatsolie Bond 2015-2020,potential of Staatsolie s offshore resources. whilst also funding the implementation ofWhen market conditions are favorable, our 2020-2027 investment program enablingStaatsolie will take further and larger steps to Staatsolieto: offer opportunities for international investors 12'