Marathon Announces Two Deepwater Discoveries in Angola

Marathon Oil Corporation announced today that its subsidiary, Marathon International Petroleum Angola Block 32 Limited, has participated in two deepwater discoveries on Block 32 offshore Angola. Louro and Cominhos are the Company’s seventh and eighth discoveries on Block 32, respectively. To date, Marathon has participated in a total of 23 discoveries in the Company’s deepwater exploration program on Blocks 31 and 32 which began in 2001.

The Louro-1 discovery well is located approximately 160 kilometers (103 miles) off the Angolan coast in 1,883 meters (6,178 feet) of water. The well was drilled to a total depth of 4,918 meters (16,136 feet) and encountered high quality oil bearing reservoirs in both the Miocene and Oligocene sections. Louro is located 19 kilometers (12 miles) southwest of the previously announced Gengibre discovery. Due to mechanical reasons, this well was not flow tested.

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