b'Staatsolie Hydrocarbon Institute N.V.In addition to Staatsolies commercial activities, which include the exploration,productionandrefiningofoil,Staatsoliealsofulfillsaninstitutional role through its wholly owned subsidiary, Staatsolie Hydrocarbon Institute N.V. (SHI). In this capacity, SHI focuses on promoting the sustainable development of Surinames hydrocarbon potential by 1) encouraging, managing and sustaining hydrocarbon activities in Suriname; 2) developing and implementing world-class standards and competencies; and 3) transitioning into an independent hydrocarbon institute.Maka Central-1 (Block 58) FOCUS ONIn Janaury 2020, Apache and Total announced THE FUTURE: asignificantoildiscoveryattheMakaCentral-1 well. The well successfully tested Major Discoveries, for the presence of hydrocarbons in the upper Major Opportunities Cretaceous-aged Campanian and Santonian intervals. The well encountered 73 meters of oil pay, and 50 meters of light oil and gas Theyear2020isasignificantoneforthe condensate pay.future of Suriname as the enormous offshoreSapakara West-1 (Block 58) hydrocarbon potential, long expected byIn April 2020, Apache and Total announced a Staatsolie, became a reality. The year sawsecond discovery in Block 58, 20 kilometers four discoveries, three in Block 58 by offshoresoutheast of Maka Central-1. The well partners Apache Corporation and Total, andencountered 79 meters of net oil and gas one in Block 52 by Petronas and ExxonMobil.condensate pay.In January 2021 there was an additionalKwaskwasi-1 (Block 58) significantdiscoveryinBlock58announcedby In July 2020, Apache and Total announced a Apache and Total. The development of thesethird oil discovery, 10 kilometers northwest of discoveries creates major opportunities thatSapakara West-1. The well discovered multiple need to be utilized strategically and wisely stacked targets in the upper Cretaceous-by Suriname. aged Campanian and Santonian intervals and encountered278 meters of net oil and volatile oil/gas condensate pay.34'