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Marathon’s Books for Bioko program — an employee-sponsored project to provide school supplies for primary and secondary education facilities in Equatorial Guinea — exemplifies the Company’s commitment to living our values. |
Corporate Social Responsibility
Corporate social responsibility is a cornerstone of Marathon’s culture, shaping its operations, actions and decisions. During 2006, Marathon demonstrated this commitment through its broad social responsibility efforts. From corporate-wide initiatives that focus on improving safety performance, to the lifesaving results associated with a five-year malaria control project in Equatorial Guinea, Marathon’s social responsibility also included continual implementation of global diversity programs, record-setting United Way campaigns and a host of other community support and philanthropic activities.
Upstream
Marathon’s exploration and production business continued a trend of delivering strong operational results, highlighted by significant discoveries and the expansion of its geographic footprint to include Colorado, North Dakota, North Central Texas and Indonesia.
In 2006, worldwide daily production from continuing operations averaged 223 thousand barrels per day (mbpd) of liquids and 847 million cubic feet per day (mmcfd) of natural gas, or 365 thousand barrels of oil equivalent per day (mboepd).
Integrated Gas
Marathon continued to realize opportunities associated with its interests in Equatorial Guinea. The Company is nearing completion of the LNG Train 1 project and announced it is studying the potential for a second train. These projects are set to convert stranded natural gas in the Gulf of Guinea to LNG via a multi-train complex. The LNG will then be delivered to consuming markets in the Atlantic Basin, where there is growing demand for clean-burning natural gas. While LNG remained the key component of our integrated gas strategy, the Company also continued to develop expertise in gas-to-fuels and natural gas hydrates technologies.
Downstream
The refining, marketing and transportation segment had a strong year on many fronts, setting records for financial results, crude oil and total throughput, as well as product yield. Unplanned downtime at refineries was minimized, and mechanical availability was a strong 94 percent for the year. The Detroit refinery expanded by 26,000 barrels per day (bpd) at the end of 2005 and exceeded design throughput rates for most of 2006. The Company also sanctioned the expansion of the Garyville, Louisiana, refinery.
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