Marathon Oil announces first deepwater Gabon pre-salt discovery

8/19/2013

Marathon Oil announces first deepwater Gabon pre-salt discovery

HOUSTON -- Marathon Oil has announced that the pre-salt Diaman-1B exploration well offshore Gabon has encountered 160-180 net ft of hydrocarbon pay in the deepwater pre-salt play.

Preliminary analysis suggests that the hydrocarbons are natural gas with condensate content, pending results of ongoing analyses of well data. The Diaman-1B well was drilled to a total depth of 18,323 ft in approximately 5,673 ft of water in the Diaba License G4-223.

The Diaman-1B successfully confirms the existence of a working petroleum system and is the first discovery drilled in the deepwater portion of the pre-salt play. Diaman-1B is located over 60 mi away from the nearest other pre-salt commercial discovery.

The operator and partners are currently evaluating the well results and incorporating them into an overall evaluation of the Diaman-1B discovery. The well will be temporarily abandoned pending further analysis of the data.

Marathon Oil holds a 21.25% non-operated working interest in the Diaba license. Partners include Total Gabon as operator (42.5% working interest), Cobalt International Energy, L.P. (21.25%), and Gabonese Republic (15%).

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