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 such as Angola.

 

Production: Marathon’s production operations, located in eight countries around the world, supply crude oil and natural gas to the growing world energy market. Worldwide operations are focused in the United States, Europe, West Africa, Libya and Russia. In 2005, worldwide daily production averaged 191 mbpd of liquids and 932 mmcfd of natural gas, or 346 mboed. Key production investments continue in Norway, where the Company is proceeding with the Alvheim/Vilje developments, and in the Gulf of Mexico, where the Company is part of the Neptune development.

Refining, Marketing and Transportation:
Marathon has extensive refining, marketing and transportation (RM&T) or downstream operations in the United States.

 

Marathon ranks as the fifth-largest petroleum refiner in the United States and the largest in the Midwest. Concentrated in the Midwest, Upper Great Plains, Gulf Coast and Southeast regions of the United States, Marathon’s RM&T operations are strategically located to serve major markets and include a seven-plant refining network with 974,000 bpd of crude oil throughput capacity, a comprehensive terminal and transportation system, and extensive marketing operations.

Marathon’s integrated gas business is adding value through the development of opportunities created by the growing demand for natural gas. The Company is linking stranded natural gas resources with areas where a supply gap is emerging due to declining production and growing demand – particularly in North America. A key component of the Company’s integrated gas business is liquefied natural gas (LNG). Over the past three years, Marathon has established an Atlantic Basin LNG business that encompasses both ends of the LNG process, the liquefaction or source side and the regasification or supply side.