About This Report
The Marathon Oil Corporation 2017 Living Our Values Corporate Sustainability Report presents our policies and programs to further the economic, social and environmental sustainability of our business and the communities where we live and work.
In addition to highlighting our sustainability priorities, this report shares examples of how we drive progress and create business value by “Living Our Values” to collaborate, take ownership, be bold and deliver results.
All information and performance data relate to our operations, unless otherwise stated. We include some information on certain non-operated assets, such as Equatorial Guinea LNG Holdings Limited (EG LNG) that is material to our sustainability reporting.
We select performance indicators related to governance, society, the workplace and the environment using the Oil & Gas Industry Guidance on Voluntary Sustainability Reporting. This joint publication of IPIECA, the American Petroleum Institute (API) and the International Association of Oil & Gas Producers (IOGP) provides a reporting framework for the petroleum industry. The Global Reporting Initiative (GRI) Sustainability Reporting Guidelines also inform our approach. To provide relevant and meaningful information about our operations and nonfinancial performance, we provide quantitative and qualitative metrics.
This report was reviewed by Marathon Oil subject-matter experts, legal and accounting staff, executives and the board of directors. The financial and operational highlights were excerpted from the 2017 Annual Report on Form 10-K. No third party or external assurance agency evaluated this report.
To identify risks and opportunities to include in this report, Marathon Oil considered internal and external perspectives on new and emerging issues, regulations, standards and practices, and a gap analysis performed by a third party. Materiality was determined based on a review of risks identified during our Enterprise Risk Assessment process and in discussions with Marathon Oil managers and subject-matter experts; socially responsible investors (SRI) and other investors; business partners, industry associations and nongovernmental organizations; and nonprofit and community partners. Additional information that informed our materiality determination came from investment reports, media coverage and a review of peer company reports to benchmark reporting practices.
Featured This Year
Marathon Oil uses well-established business processes to evaluate climate change risk in our investment decisions, and engages with external stakeholders to understand their perspectives.
Marathon Oil and our workforce were deeply affected by the record-shattering storm. But we cared for each other, our neighbors and communities, while continuing critical business functions and safeguarding our South Texas Eagle Ford asset.
Digital Oilfield Capabilities
We’re expanding digital oilfield capabilities throughout our U.S. unconventional resource plays. They’re allowing us to automate field operations, transmit and manage large amounts of data, perform site and equipment surveillance remotely, and analyze and optimize operations.
Since 2002, Marathon Oil has been the operator of a world-class integrated gas business in Equatorial Guinea. We’re striving to bring progress, opportunities and national capacity to the community and host nation, while building long-term shareholder value.