Marathon Announces Tebe Discovery in Deepwater Angola Block 31
HOUSTON,
The Tebe discovery well is located approximately 7 miles southeast of the Hebe discovery announced in
The well was drilled in a water depth of approximately 5,700 feet and reached a total measured depth of approximately 11,400 feet. The well test results confirmed the capacity of the reservoir to flow in excess of 5,000 barrels per day.
Located in the northeast sector of Block 31, the PSVM development is proceeding with first production targeted in 2012.
The concessionaire of Block 31 is Sonangol,
Marathon is an integrated international energy company engaged in exploration and production; oil sands mining; integrated gas; and refining, marketing and transportation operations. Marathon has principal operations in
This news release contains forward-looking statements concerning the possibility of a significant new resource base and the PSVM deepwater oil development project including the timing of production. These forward-looking statements may be affected by a number of factors or are based on a number of assumptions, including, among others, pricing, supply and demand for petroleum products, amount of capital available for exploration and development, regulatory constraints, timing of commencing production from new wells, drilling rig availability, unforeseen hazards such as weather conditions, presently known data concerning size and character of reservoirs, economic recoverability, future drilling success, production experience, acts of war or terrorist acts and the governmental or military response thereto, and other operating considerations. In accordance with "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995,
Media Relations Contacts:
Lee Warren 713-296-4103
Paul Weeditz 713-296-3910
Investor Relations Contacts:
Howard Thill 713-296-4140
Chris Phillips 713-296-3213
SOURCE
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