Project Profile
Location: 50 miles offshore Gabon
Area: 275,000 acres
Water depth: 3,250 - 8,250 ft (991 - 2,515 m)
Marathon Oil Exploration Ltd., a wholly owned subsidiary of Marathon Oil, signed an exploration and production-sharing contract for deepwater presalt Block G13. Marathon is operator with 100% interest. In the event of development, Gabon will assume 20% financed interest in the contract upon commencement of production. The country holds additional rights to participate in the block in the future as a co-investor. The newly named Tchicuate block is 50 miles offshore Gabon and encompasses 275,000 acres in 3,250-8,250 ft of water. The acreage is near proven shallow-water, presalt oil discoveries.
Operators:
Marathon Oil Exploration Ltd.: Operator with 100% interest
Contractors: