Marathon Oil Announces First Gas Production From Alba B3 Off Equatorial Guinea

(RTTNews) - Marathon Oil Corp. (MRO) announced Thursday that it has achieved first gas production through its new Alba B3 offshore compression platform off Equatorial Guinea. The company expects to convert approximately 130 million barrels of oil equivalent of proved undeveloped reserves.

Mitch Little, vice president - Conventional said, "The Alba B3 compression project will allow us to maintain plateau production for the next two years, mitigating base decline, while extending the Alba Field's life by up to eight years."

Marathon Oil's wholly owned subsidiary Marathon E.G. Production Limited holds an approximately 65 percent working interest in the Alba Field and is the operator, while Noble Energy, Inc. owns approximately 35 percent.