Marathon to run Alba project off Equatorial Guinea

11/12/2001
Marathon Oil Co. will acquire CMS Energy Corp.'s upstream and downstream interests in Equatorial Guinea for $993 million with an eye toward developing the assets' remaining gas potential.Acquisition of Alba field and related assets will represent a new core business area for Marathon.Marathon will acquire a 52.4% interest in and operatorship of the offshore Alba Block, which borders Nigerian and Cameroon waters. The block contains Alba gas field, undeveloped discoveries, and several undrilled prospects in the Gulf of Guinea.It also will get 37.6% interest in the adjacent offshore Block D; 52.4% interest in an onshore gas processing plant; 45% interest in a joint venture onshore me...
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