Exploration: Exploration:
Marathon’s exploration activities are focused on
adding profitable production to existing core areas in
the United States, Equatorial Guinea and the North Sea,
and to developing potential new core areas in Angola
and Eastern Canada.
Production: Marathon’s production operations,
based in seven countries around the world, supply products to
the growing world energy market. Worldwide operations are focused
in four core areas: the United States, Europe, West Africa and Russia. In 2004, worldwide daily
production averaged 170 mbpd of liquids and 999 mmcfd of natural gas, or 337 mboed. U.S. production accounted for 55 percent
of the Company’s worldwide production with investment focused
on the mid-America gas corridor and the Gulf of Mexico. Another
26 percent of worldwide production originated in Europe with
investment focused on offshore fields in the North Sea and Ireland.
Key production investments continue in Equatorial Guinea, where
the Company has completed projects that are expected to significantly increase gas condensate and liquefied petroleum gas (LPG) production, and in Norway, where
the Company is proceeding with the Alvheim and Vilje developments. In addition, Marathon has investments in production growth and development projects in Russia and Ireland |
|
Working to
add value through opportunities created by the world’s
growing demand for natural gas, Marathon is developing
integrated gas projects to link stranded natural gas
resources with key demand areas where domestic production
is declining and demand is growing — particularly
in North America.
Marathon is commercializing world-class natural gas reserves
offshore Equatorial Guinea with construction of a liquefied natural gas (LNG) plant, which is projected to produce 3.4 million metric tonnes of LNG per year
beginning in late 2007.
Marathon has LNG long-term delivery rights at Elba Island,
Georgia, of up to 58 bcf per year. The Company recently
secured a five-year LNG supply agreement that will fully
utilize its capacity in the Elba Island terminal beginning
in the second half of 2005.
Marathon’s interest in the Atlantic Methanol Production
Company LLC (AMPCO) in Equatorial Guinea delivered record
volumes during a period of strong prices.
Marathon’s integrated gas business builds upon
more than 30 years of LNG experience gained from the
Company’s interest in the first and only LNG export
operation in the United States, located in Kenai, Alaska.
Marathon is also engaged in gas-to-liquids (GTL) technology
development, which has resulted in a process capable
of converting natural gas into ultra-clean fuels. |
|
Refining, Marketing and Transportation:
Marathon refines, markets and transports crude oil and petroleum products, primarily in the Midwest and Southeast regions of the United States, through MAP, in which Marathon holds a 62 percent interest.
MAP operates seven refineries with a total capacity of 948,000 bpd. MAP’s refineries process a wide variety
of crude oils into many refined products, including gasoline, distillates,
asphalts, feedstocks and special products. MAP operates 84 light product
and asphalt terminals and markets refined products in 17 states.
MAP supplies motor fuel to approximately 3,900
independently-owned and -operated Marathon brand stations. In addition, MAP
owns Speedway SuperAmerica LLC, the third-largest chain of company-owned and-operated retail gasoline outlets
in the nation with approximately 1,670 locations. MAP also has a 50 percent
interest in Pilot Travel Centers LLC, which is the largest company-owned
and -operated travel center network in the United States with approximately 250 locations. In addition, MAP owns, operates, leases or has interest in
approximately 7,700 miles of crude and refined product pipelines, an extensive
inland barge distribution network and a 46.7 percent interest in the Louisiana
Offshore Oil Port, the nation’s only deepwater oil port. |
