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Natural Gas Marketing

Equatorial Guinea

Marathon’s holdings in Equatorial Guinea include a 63 percent working interest in the Alba Field, a 52 percent interest in the Alba LPG plant, a 45 percent interest in the Atlantic Methanol Production Company LLC (AMPCO) and a 60 percent interest in a liquefied natural gas (LNG) plant on Bioko Island.

Marathon's Gardenia natural gas and condensate discovery well on the Alba Block (Sub Area B) offshore Equatorial Guinea is approximately 10 miles southwest of the Alba Field in 320 feet of water. Discovered in 2004, the well was drilled to a total depth of 15,175 feet and encountered 150 feet of net gas/condensate pay in the Upper Isongo section, which is also productive in the Alba Field.

The Company's Alba Deep natural gas and condensate discovery on the Alba Block (Sub Area A) is approximately 18 miles northwest of Bioko Island in 245 feet of water. The well was drilled from the Alba Field production platform in 2004 to a total measured depth of 15,497 feet and encountered 270 feet of net gas/condensate pay in the Lower Isongo section. The well also encountered gas/condensate pay in the shallower Isongo Massive sands in the Alba Field producing section.

The gas from the Gardenia and Alba Deep discoveries could potentially be used to extend the life of the LNG Train 1 production facility, or contribute to gas resources for a potential LNG Train 2 facility. Approximately 130 mmcfd of the dry gas remaining after the condensate and LPG are removed is supplied to the AMPCO plant on Bioko Island, where it is used to manufacture 3,000 tonnes of methanol per day.

In May 2007, Marathon and its partners completed construction of a 3.7 million metric tonnes per annum (mmtpa) liquefaction facility that is aligned with, and integrated into, Marathon's Equatorial Guinea gas processing operations on Bioko Island. Approximately 650 gross mmcfd of the Alba Field dry gas is supplied to the recently completed LNG production facility as feedstock. Approximately 3 trillion gross cubic feet (tcf) of dry gas from the Marathon-operated Alba Field will be processed through the plant under a contract with BG Gas Marketing Ltd.

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