Marathon Oil Corp. (NYSE: MRO) has achieved first gas production through its new Alba B3 offshore compression platform offshore Equatorial Guinea, the company said in a news release.
The production enables Marathon Oil to convert about 130 million barrels of oil equivalent of proved undeveloped reserves, which more than doubles the company’s remaining proved developed reserve base in Equatorial Guinea.
“The Alba B3 compression project will allow us to maintain plateau production for the next two years, mitigating base decline, while extending the Alba Field's life by up to eight years,” Mitch Little, vice president—conventional for Marathon, said in the release.
Heerema Fabrication Group (HFG) serving as the general contractor for the project, while an Equatoguinean construction firm fabricated the platform flare and bridge structures, the news release said.
Marathon E.G. Production Ltd., a subsidiary of Marathon Oil, holds about a 65% working interest in the Alba Field and serves as operator. Noble Energy Inc. has about a 35% working interest in the field.
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