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Business Strategy

Base Assets Provide Steady Production and Income

Stable, oil-focused base assets around the world are the foundation for Marathon Oil's production, as well as generating substantial profit and free cash flow. High operational reliability, disciplined investment and a competitive cost structure capture value from these assets.

The Company's major areas of liquid hydrocarbon production are offshore Norway and the United Kingdom; Equatorial Guinea (EG); the U.S. Gulf of Mexico; onshore conventional plays in Wyoming, Oklahoma and Texas; and the Athabasca Oil Sands Project (AOSP) in Canada. Marathon Oil's primary base natural gas assets are located in EG and the United Kingdom, as well as Alaska, Wyoming, Oklahoma, Texas, the Gulf of Mexico, Colorado and Louisiana.

Growth Assets Coming Onstream Through 2016

Marathon Oil is driving profitable production growth by developing strategic growth assets in U.S. unconventional liquids-rich plays, the Gulf of Mexico, Canadian in-situ resources, the Iraqi Kurdistan Region and deepwater Angola.

The Company has significantly increased its holdings in U.S. liquids-rich resource plays in the Eagle Ford Shale formation in Texas, the Anadarko Woodford Shale in Oklahoma, North Dakota's Bakken Shale, and the DJ Basin in Wyoming and Colorado.

Building for the Future with Exploration

Marathon Oil invests selectively in exploration programs that have the potential for significant value creation.