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Exploration Projects

News Spotlight Series Exploration Projects

Marathon Oil is currently targeting four key focus areas over the next five years: Gulf of Mexico, the Iraqi Kurdistan Region, Poland and Norway.

In the Gulf of Mexico, we have a large inventory of prospects spread across the attractive Miocene and Paleogene plays which hold an estimated 1 billion barrels of oil equivalent (bboe) unrisked net resource potential.

Marathon holds a position in four exploration blocks in the Iraqi Kurdistan Region with 3 bboe gross unrisked resource potential. This area is a high potential, world class, unexplored, conventional onshore oil play. We have participated in two wells in 2011, both of which have shown promising results.

In Poland, Marathon has 11 concessions totaling 1.2 million net acres. We brought two partners into this venture to reduce our risk. Current plans are to begin drilling one or two wells in late 2011 with an additional seven to eight wells planned for 2012.

In 2011, Marathon drilled two discovery wells in Norway, close to the existing Alvheim Development Area and the Alvheim FPSO. Further exploration drilling is planned in 2012.

Marathon has a competitive edge due to our technical strengths, particularly in seismic imaging, reservoir characterization, and drilling and completion. By assessing exploration risk at a basin level, Marathon can concentrate on the highest value assets with significant resource potential, making exploration outcomes more predictive.

Marathon's systematic approach to exploration starts with identifying the highest resource density in select trends and plays where we can apply our integrated technical and operational work programs to achieve a lead position. We look for opportunities to use our proven skill sets for repeatable exploration successes.