Equatorial Guinea LNG Train 1 — a world-class project
delivering significant value.

Integrated Gas

In 2006, Marathon supported its integrated gas strategy — complementary to the Company’s exploration and production business — with a number of major initiatives.

In Equatorial Guinea, construction of the LNG Train 1 project continued on budget and ahead of schedule, with first LNG cargo shipments scheduled for the second quarter of 2007. Once completed, Train 1 will encompass a 3.7 million metric tonnes per annum (mmtpa) liquefaction plant that is aligned with, and integrated into, Marathon’s Equatorial Guinea gas processing operations on Bioko Island. Approximately 3 trillion gross cubic feet of dry gas from the Alba Field will be processed through

the LNG plant under a 17-year contract with BG Gas Marketing Ltd. Marathon holds a 60 percent interest in the LNG project, along with partners Sonagas (25 percent), Mitsui & Co. (8.5 percent) and a Marubeni Corporation subsidiary (6.5 percent).

Marathon and its partners are in discussions with potential gas suppliers in Nigeria, Cameroon and Equatorial Guinea relative to additional LNG trains on Bioko Island. A FEED study is under way on a potential 4.4 mmtpa LNG plant and associated facilities. The FEED study is slated for completion by the end of the first quarter of 2007, with a final investment decision expected in early 2008.