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Ireland

Marathon operates the Kinsale Head, Ballycotton and Seven Heads fields off the south coast of Ireland, and holds an interest in the Corrib gas development project off the northwest coast. Marathon was the first company to produce natural gas in Ireland.

In early 2008, as part of Marathon's ongoing efforts to actively manage its global asset portfolio and to ensure alignment with business plans, the Company made the decision to evaluate its assets in Ireland, which ultimately could lead to a sale if an acceptable offer is received.

Kinsale Head

Located in the Celtic Sea, the Kinsale Head Field came on stream in 1978. The Ballycotton subsea satellite was added in 1991, while the Southwest Kinsale Field became operational in 1999. Kinsale Head gas is produced to two platforms: Alpha, which is the main processing platform, and Bravo, which is a Normally Unmanned Installation (NUI), without processing facilities. Gas is exported from the Alpha platform to a terminal near Cork, where it is metered and transferred to the Irish national utility for nationwide transmission and distribution.

Seven Heads

In 2002, Marathon entered into an agreement with the Seven Heads group, to provide gas processing and transportation services, as well as field operating services, through Marathon's existing Kinsale Head facilities. The Seven Heads Field is 22 miles southwest of Marathon's Kinsale Head Bravo platform and came on stream in December 2003. Marathon acquired an 86.5 percent interest in Seven Heads Field in 2006.

Corrib

The Corrib gas development project is approximately 40 miles off Ireland's northwest coast, where seven appraisal/development wells have been drilled. Marathon holds an 18.5 percent interest in the Corrib development. Shell serves as the operator holding a 45 percent interest. Corrib will enable Ireland to replace gas imports from the U.K. with indigenous supplies. At peak production, Corrib will supply approximately 60 percent of Ireland's gas demand. First production from the field is expected in 2010, with an estimated net production of approximately 50 mmcfd of natural gas.

Marathon's partners in Corrib gas are Shell E & P Ireland Ltd (45 percent and operator) and Statoil Exploration Ireland Ltd (36.5 percent). For more information, please visit the operator's Corrib website.

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