b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2020 (Continued)SECTION 1. Itsvaluesare:CORPORATE AND GROUP INFORMATION 1.HSECFocused:Weputhealthandsafetyfirst,striveforzeroharmtoourpeopleandthe1.1 CORPORATE INFORMATION communitiesaroundus,andminimizenegativeimpacts upon the environment.Theconsolidatedfinancialstatementsofthe 2.Integrity:WearehonestanddowhatwesayweGroup,whichcompriseStaatsolieMaatschappij will do.SurinameN.V.(Staatsolie,astheparent)andallitssubsidiaries,fortheyearendedDecember31, 3.P eopleFocused:Wecreateasupportiveand2020,wereauthorizedforissueinaccordance collaborativeenvironment,respecteachother,with a resolution of the Supervisory Board onareopentoothersideasandfacilitatepersonalMay06,2021. and professional growth.Staatsolie is a limited liability company4.E xcellence:Wesethighstandardsforquality,incorporated and domiciled in Suriname whosestrivetoexceedexpectations,anddoourworkshares are solely owned by the Government ofwith a sense of urgency.Suriname(GoS).TheregisteredofficeislocatedatDr.Ir.H.S.Adhinstraat21,Paramaribo,Suriname. 5.A ccountability:WeacceptresponsibilityforourStaatsolie (the Company) is an integrated oiljobandactions,arecooperative,andcreateacompany in the Republic of Suriname of whichnon-blaming environment.theintegratedactivitiesincludeexploration,production,refining,marketinganddistributionofpetroleum and retail products.1.2 GROUP INFORMATION Throughitssubsidiary(SPCS),Staatsolieis Staatsolie has four (4) subsidiaries of which three engaged in thermal and hydro-electric power(3)arewhollyowned:(1)ParadiseOilCompanygeneration.N.V.(POC)and(2)GOw2EnergySurinameN.V.(GOw2),bothcompaniesincorporatedinTheGroupsstructureandotherrelatedparty theRepublicofSuriname,(3)VentrinPetroleumrelationshipsispresentedinsection7Group CompanyLimited(Ventrin),abunkeringcompanyinformation and related party disclosures.incorporatedintheRepublicofTrinidadandTobagoand(4)StaatsolieHydrocarbonInstituteStaatsoliesvisionis: N.V.(SHI),acompanymandatedtoperformtheL eadingthesustainabledevelopmentof institutional role of Staatsolie. Surinamesenergyindustry. Staatsolieholds102,999outof103,000sharesMakingastrongcontributiontotheadvancement oftheStaatsoliePowerCompanySurinameN.V. (SPCS),incorporatedintheRepublicofSuriname,of our society. and the local electricity company Energie Becoming a regional player with a global identityBedrijvenSurinameN.V.(N.V.EBS)holdsonein the energy sector. share.Staatsoliesmissionis: POCis,now,adormantcompany.InJune2015,POCsoperationswereputonholdandtheT company did not have any activity during the odevelopSurinameshydrocarbonpotential reportingperiodof2020.overthefullvaluechain,togenerateelectricityand to develop renewable sustainable energyWithregardtoStaatsoliesgoldparticipationresources. interest,sinceNovember2014,StaatsoliehasTosecuretheenergysupplyofSurinameandto a participating interest of 25% in the Suriname establish a solid position in the regional market. GoldProjectCV(Surgold),alimitedpartnershipbetweenNewmontSurinameLLCandStaatsolie.Toexpandourreputationbasedonourgrowth InApril2020,Staatsolieenteredintoanperformance,flexibility,andcorporatesocial UnincorporatedJointVenture(UJV)withRosebelresponsibility. GoldMinesN.V.(Rosebel)namedPikinSaramacca.54 STAATSOLIE 2020 ANNUAL REPORT'