b'CONTENTS5 General Information 6 Letter of the Managing Director 12 Financial and Operational Performance 2018 20 Independent Auditors Report to Shareholders of Staatsolie Maatschappij NV26ConsolidatedStatementofProfitorLoss27 Consolidated Statement of Comprehensive Income 28 Consolidated Statement of Financial Position 29 Consolidated Statement of Changes in Equity 30 Consolidated Statement of Cash Flows 33 Index to notes to the Consolidated Financial Statements LIST OF USED ABBREVIATIONSbbl: barrel (ca. 159 liter) DDP: Development Drilling ProgramKbbls: thousands of barrels EOR: Enhanced Oil RecoveryMMbbls: millions of barrels IOR: Improved Oil Recoveryoz.: (troy) ounce CSS: Cyclic Steam StimulationHSE: Health, Safety and Environment ULSD: Ultra Low Sulphur DieselHSEC: Health, Safety, Environment and Community MWh: megawatt-hourNSD: Nearshore Drilling IMO: International Maritime OrganizationEBITDA: Earnings before interest, taxes, HSEQ: Health, Safety, Environment and Qualitydepreciation, and amortization LTI: Lost Time Incident/InjuryIOC: international oil company PSC: Production Sharing ContractIPO: Initial Public Offering MT/CSEM: Magneto Telluric and Controlled Source IFRS: International Financial Reporting Standards ElectromagneticCAPEX: Capital expenditures2D: two-dimensional ESIA: Environmental and Social Impact Assessment 3D: three-dimensional bopd: barrels of oil per day'