Gengibre-2 Appraisal Well Defines Additional Hydrocarbon Resource In Block 32

Houston - Marathon Oil Corporation announced that its subsidiary, Marathon International Petroleum Angola Block 32 Limited, has participated in a successful deepwater delineation well adjacent to the Gengibre-1 discovery on Block 32 offshore Angola. With the success of the Gengibre-2 appraisal well, along with the nearby Gindungo, Canela and Gengibre-1 discoveries, Angola Block 32 moves closer towards establishing a commercial development.

"We continue to be very pleased by the exploration success we have achieved at Blocks 31 and 32 offshore Angola. Marathon will continue to work closely with our partners on drilling plans to further evaluate the resource potential of Block 32," said Philip Behrman, Marathon's senior vice president of Worldwide Exploration.

The Gengibre-2 appraisal well is located approximately 162 kilometers (100 miles) off the Angolan coast in 1,696 meters (5,564 feet) of water. The well was drilled to a total depth of 4,342 meters (14,245 feet) and successfully tested at restricted rates of 5,226 barrels of oil per day from one horizon and 4,969 barrels of oil per day from another interval. Gengibre-2 is located 2 kilometers (1.3 miles) northwest of the previously announced Gengibre-1, located 12 kilometers (8 miles) west from the Canela discovery, and 17 kilometers (9 miles) southwest of the Gindungo discovery.

The concessionaire of Block 32 is Sonangol, Angola's state-owned oil company. Marathon and TOTAL Exploration (the operator of the block) each hold a 30 percent interest in Block 32, while Sonangol P&P holds a 20 percent interest, Esso Exploration and Production Angola (Block 32) has a 15 percent interest, and Petrogal has a 5 percent interest in the block.

SOURCE: Marathon Oil Corporation