World of Oil ///

Marathon hits in GOM Marathon Oil said that it struck oil in a new deepwater discovery well in the Green Canyon region of the Gulf of Mexico. The Droshky 1, previously known as Troika Deep, is about 137 mi south-southwest of Venice, Louisiana, in about 2,900 ft of water. The well was drilled to 21,190 ft, and net oil pay is about 250 ft, said the firm. Marathon owns 100% interest in the find. The company has started to drill up to two sidetrack wells, which will be followed by engineering development studies. Ecuador to rejoin OPEC President Rafael Correa confirmed that Ecuador will return to OPEC, 15 years after leaving the group. “The decision to return to OPEC has been taken, and this will open up a lot of opportunities, among them access to credit in Middle East banks,” Correa told reporters during a visit to Brasilia, Brazil.

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