Marathon fourth deepwater discovery in Angola
Posted: 26 November 2003
Marte discovery reinforces commercial viability of Block
31
Marathon Oil Corporation subsidiary, Marathon Petroleum Angola
Block 31 Limited, participated in a deepwater discovery on Block
31 offshore Angola. The Marte - 1 discovery well reinforces the
commercial viability of discoveries made on Block 31 and development
options are currently being evaluated.
The Marte - 1 discovery well is located approximately 190 kilometers
(118 miles) off the Angolan coast in 1,978 meters (6,489 feet) of
water. The well was drilled to a total depth of 4,193 meters (13,756
feet) and tested at a maximum rate of 5,200 barrels of oil per day.
Marte is located 21 kilometers (13 miles) northwest of the previously
announced Saturno discovery, also on Block 31.
"Marte is the fourth discovery in which Marathon has participated
on Blocks 31 and 32, and the third discovery on Block 31,"
said Philip Behrman, Marathon senior vice president of Worldwide
Exploration. "Marathon supports the consensus of the Block
31 interest owners that a commercial development is very likely."
The next Block 31 well is on the Venus prospect and is planned to
spud by the end of the year.
The concessionaire of Block 31 is Sonangol, Angola's state-owned
oil company. Marathon holds a 10 percent interest in Block 31, along
with the operator BP Exploration Angola with 26.67 percent, Sonangol,
E.P. with 20 percent, Esso Exploration and Production Angola (Block
31) Limited with 25 percent, Statoil Angola A.S. with 13.33 percent
and EPA (Block 31) Ltd. (a member of the Total group) with 5 percent.
Marathon also holds a 30 percent interest in the adjacent Block
32 to the south where the Gindungo discovery was announced earlier
this year. An additional Block 32 exploration well will spud in
fourth quarter 2003 in the vicinity of the Gindungo discovery.
Marathon Oil Corporation is an energy company engaged in the worldwide
exploration, production and transportation of crude oil and natural
gas. Through its 62 percent ownership of Marathon Ashland Petroleum
LLC, the company also refines, markets and transports petroleum
products in the United States.
For more information see http://www.marathon.com.
Posted by Richard Price,
Editor Pipeline Magazine
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