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14.04.2011

Marathon Oil Discovers Oil in Kurdistan

Marathon Oil Corporation (NYSE: MRO) announced today that its subsidiary, Marathon Petroleum KDV B.V., has participated in the Atrush-1 discovery well, located approximately 55 miles northwest of Erbil in the Kurdistan Region of Iraq.

The Atrush-1 well was drilled to a total depth of approximately 11,000 feet, and encountered 400 feet of net pay in the Jurassic zones. Drill stem tests were conducted to establish reservoir pressure gradients, fluid content and properties, and reservoir deliverability.  Flow rates were established totaling more than 6,000 barrels of oil per day (bopd) from three horizons. The flow rates were limited by tubing sizes and testing equipment.

Marathon holds a 20 percent interest in the Atrush block. The well was operated by the joint-venture company General Exploration Partners, Inc., a subsidiary of Aspect Holdings, LLC and ShaMaran Petroleum, Inc., which holds an 80 percent working interest in the block.

Copyright 2011, Marathan Oil. All rights reserved.

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