b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2021 (Continued)2.4 SIGNIFICANT ACCOUNTING JUDGMENTS,ThisassessmentoftenrequiressignificantESTIMATES AND ASSUMPTIONSjudgment.AdifferentconclusionaboutbothThepreparationoftheGroupsconsolidated jointcontrolandwhetherthearrangementisafinancialstatementsrequiresmanagementtomake jointoperationorajointventure,maymateriallyjudgments,estimatesandassumptionsthataffect impact the accounting treatment.thereportedamountsofrevenues,expenses, Revenue from contracts with customersassetsandliabilities,andtheaccompanyingdisclosures,andthedisclosureofcontingent TheGroupappliedthefollowingjudgementsliabilities.Uncertaintyabouttheseassumptionsand thatsignificantlyaffectthedeterminationoftheestimatescouldresultinoutcomesthatrequirea amountandtimingofrevenuefromcontractswithmaterialadjustmenttothecarryingamountofasset customers:orliabilityaffectedinfutureperiods. IdentifyingperformanceobligationsinabundledJudgments saleofoilproductsandtransportationservicesIntheprocessofapplyingtheGroupsaccounting Insomecases,theGroupprovidestransportationpolicies,managementhasmadethefollowing servicesaspartofcontractswithcustomerswhenjudgments,whichhavethemostsignificanteffect providingoilproducts.TheGroupdeterminedontheamountsrecognizedintheconsolidated thattransportationservicesarenotconsideredafinancialstatements: distinctperformanceobligationsincethisservicetothecustomerisnotconsideredtobeseparatelyInvestment in Joint Venture identifiablefromthesaleofoilproductstotheJudgmentisrequiredtodeterminewhenthe customer,theseareconsideredhighlyinterrelated.Grouphasjointcontroloveranarrangement, Identifyingperformanceobligationsinabundledwhichrequiresanassessmentoftherelevant saleofoilproductsandequipmentrentalactivitiesandwhenthedecisionsinrelationtothoseactivitiesrequireunanimousconsent. TheGroupmakesequipmentavailabletotheTheGrouphasdeterminedthattherelevant customers as part of contracts with customers activitiesforitsjointarrangementsarethose whenprovidingoilproducts.TheGroupdeterminedrelating to the operating and capital decisions ofthatthesaleofoilproductsandequipmentrentalthearrangement,includingtheapprovalofthe arenotcapableofbeingdistinct.Thesaleofannualcapitalandoperatingexpenditurework oilproductsandequipmentrentalarehighlyprogramandbudgetforthejointarrangement, interrelated,becausetheGroupwouldnotbeableandtheapprovalofchosenserviceproviders to sell the oil products if the customer declined foranymajorcapitalexpenditureasrequiredby equipmentrental.thejointoperatingagreementsapplicabletotheDetermining the timing of satisfaction of sale of oil entitysjointarrangements.Theconsiderationsmadeindeterminingjointcontrolaresimilar productstothosenecessarytodeterminecontrolover TheGroupdeterminedthatforcontractsthatsubsidiaries,assetoutinSection2.3b.Judgment areconsideredconsignmentarrangements,isalsorequiredtoclassifyajointarrangement. theobligationistotransfertheproducttotheClassifyingthearrangementrequirestheGroupto consignee.TheGroupwillnotrelinquishcontrolassesstheirrightsandobligationsarisingfromthe of the consigned product until the product is sold arrangement.Specifically,theGroupconsiders: totheend-customer.ConsigneesdonothaveThestructureofthejointarrangementwhetherit anyobligationtopayfortheproduct,otherthanisstructuredthroughaseparatevehicle to pay the Group the agreed-upon portion of the sale price once the consignee sells the product Whenthearrangementisstructuredthrougha toathirdparty.Asaresult,forconsignmentseparatevehicle,theGroupalsoconsidersthe arrangements,revenueisrecognizedwhentherightsandobligationsarisingfrom: productsaredeliveredtotheendcustomerandtheperformanceobligationhasbeensatisfied. T helegalformoftheseparatevehicleConsiderationofsignificantfinancingcomponent Thetermsofthecontractualarrangement in a contractOtherfactsandcircumstances,consideredonacasebycasebasis91'