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Marathon

Marathon is an integrated international energy company engaged in exploration and production; oil sands mining; integrated gas; and refining, marketing and transportation operations. Marathon, which is based in Houston, has principal operations in the United States, Angola, Canada, Equatorial Guinea, Gabon, Indonesia, Ireland, Libya, Norway and the United Kingdom. Marathon is the fourth largest United States-based integrated oil company and the nation's fifth largest refiner.

Exploration and Production Marathon's exploration activities are focused on adding profitable production to existing core areas (United States, Equatorial Guinea, Libya and the North Sea) and developing potential new core areas (Angola and Indonesia).

Marathon's production operations supply crude oil and natural gas to the growing world energy market. Located in seven countries, worldwide production operations are currently focused in the U.S., Africa and Europe. The Company also holds ownership interests in both operated and non-operated oil sands leases in Canada that could be developed using in-situ methods of extraction.

Oil Sands Mining Marathon owns a 20 percent outside-operated interest in the Athabasca Oil Sands Project (AOSP), which includes the Muskeg River Mine and the Scotford Upgrader, located in Alberta, Canada. A key attribute of this asset is the ability to link production from the AOSP developments, including five planned expansions of the current mining operations, with Marathon's existing and planned heavy oil upgrade capabilities within its seven plant refinery system.

Integrated Gas Marathon's integrated gas business adds value through the development of opportunities created by the growing demand for natural gas. The Company is linking stranded natural gas resources with areas where a supply gap is emerging due to limited production growth and increasing demand, particularly in North America. Integrated gas complements Marathon's exploration and production operations and opens a wide array of investment opportunities designed to add sustainable value growth.

Refining, Marketing and Transportation Marathon has extensive refining, marketing and transportation operations concentrated primarily in the Midwest, Upper Great Plains, Gulf Coast and Southeastern regions of the U.S. Marathon ranks as the fifth-largest crude oil refiner in the U.S. and the largest in the Midwest. Strategically located to serve major markets, Marathon's operations include a seven-plant refining network with 1,016,000 barrels per day of crude oil refining capacity, a comprehensive terminal and transportation system and extensive marketing operations.

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Last updated 25/02/09

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