Marathon Flows First Oil From Tchatamba West; Third Gabon Field on Stream

abarrelfullabarrelfull wrote on 18 Jul 2015 19:23
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Nov. 17th 2000

Marathon Petroleum Gabon LDC, along with its co-venturer Santa Fe Energy Resources of Gabon, Ltd., announced the start of production from the Tchatamba West field located 15 miles offshore, and approximately 100 miles southeast of Port Gentil, Gabon in 165 feet of water.

Tchatamba West was discovered in 1997 and contains estimated gross reserves of 7 million barrels of oil.

The Tchatamba West field is planned as a one well development. The well is currently producing 6,000 gross barrels of oil per day via a submersible pump. Production from this automated facility flows through a 5-mile long, 6-inch diameter pipeline to the Marathon operated Mobile Offshore Production Unit at Tchatamba Marin for processing. Oil from Tchatamba West is commingled with production from Tchatamba Marin and Tchatamba South, and piped to a floating storage and offloading vessel in the Tchatamba Marin field. The development of Marathon's third Gabon field maintains production at the facility capacity of 40,000 barrels of oil per day.

"In less than eight years, Marathon has added Gabon to its international portfolio, conducted an exploration program and brought three discoveries on stream," said Richard Pollock, Marathon's general manager for Gabon. "The development of linked production facilities to a central processing unit and offloading system has resulted in an efficient business solution that accounts for more than ten percent of Gabon's oil production."

The State of Gabon has the right to back into any development at first production and has delegated its right under this arrangement to Energy Africa Gabon S.A. Under the terms of the Production Sharing Agreement, Marathon is operator with a 56.25 percent working interest, while Energy Africa Gabon S.A., has a 25 percent interest and Santa Fe Energy Resources of Gabon, Ltd. has an 18.75 percent.

Marathon Petroleum Gabon LDC is a part of the USX-Marathon Group (NYSE: MRO), a unit of USX Corporation.

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