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MARATHON IN NORWAYMarathon is actively involved in the exploration and production of oil and gas in Norway. The Company received its first operatorship on the Norwegian Continental Shelf in 2002 and in 2008 production commenced from Marathon's first operated development in Norway. The Norway office is located in Stavanger. Alvheim and ViljeMarathon has a 65 percent working interest in Alvheim and serves as operator. Marathon holds a non-operated 46.9 percent working interest in the Vilje Field, a subsea development tie back to Alvheim. The Alvheim and Vilje developments are estimated to contain gross risked resources of approximately 250 million barrels of oil equivalent (boe). The Alvheim floating production, storage and offloading vessel (FPSO) has a nameplate capacity of 120,000 barrels per day of oil and 125 million cubic feet per day of natural gas with total storage capacity of 560,000 barrels of oil. It is located about 224 kilometres (140 miles) from Stavanger. VolundInitial production from Volund was achieved ahead of schedule on September 9th, 2009, from one production well, which flowed for approximately three days to test performance. Due to the exceptional utilization of the Alvheim floating, production, storage and offloading (FPSO) vessel -- and sustained performance of the Alvheim fields -- the first Volund well is functioning as a swing producer. This mode of operation as a swing producer is expected to continue until mid 2010. Marathon is operator of Volund with a 65 percent stake, while Lundin Norway AS has the remaining 35 percent. GudrunDevelopment plans are underway for the North Sea Gudrun Field, which contains both oil and natural gas. The development concept, announced by the operator Statoil in January 2009, includes a fixed processing platform with seven production wells that would be tied back to Statoil's existing facilities at Sleipner. Marathon holds a 28.2 percent working interest in Gudrun. Exploration
Marathon holds interests in more than 2,800 km2 (700,000 gross acres) offshore Norway and has a dedicated Norway exploration team within the Stavanger office. The Company is an active participant in the Norway Licensing Rounds and has rig capacity secured through 2012 for its near-term exploration programme. |
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