Announced a total of six exploration discoveries on Blocks 31 and 32 offshore Angola.

Completed an 8,700-acre leasehold acquisition in the Piceance Basin, one of the most active basins in North America.

Neared completion of liquefied natural gas Train 1 and awarded a front-end engineering and design contract for a potential second train.

Commenced development drilling on Neptune and remained on target to deliver first production by early 2008.

Signed a production-sharing contract for the 1.2 million-acre deepwater Pasangkayu Block, where Marathon holds a 70 percent working interest and serves as operator.

Resumed operations in Libya, achieved first crude oil liftings and added almost 70 million net barrels of oil equivalent (mmboe), ending 2006 with 214 mmboe of proved reserves.

Approved a projected $3.2 billion expansion of the Garyville refinery that will increase refining capacity by 180,000 barrels per day.

Secured a 200,000-acre leasehold position in the Bakken Shale oil play.

Neared completion of the Alvheim project, received government approval for development and operation of the Volund Field, and announced successful Gudrun appraisal well results.

Started construction of a 110 million-gallon per year ethanol plant in Greenville, under a 50/50 joint venture.

Completed low sulfur gasoline and ultra-low sulfur diesel fuel modifications on time and under budget.