Monday, Jun 17, 2024
logo
Update At 14:00    USD/EUR 0,00  ↑+0        USD/JPY 0,00  ↑+0        USD/KRW 0,00  ↑+0        EUR/JPY 0,00  ↑+0        Crude Oil 0,00  ↑+0        Asia Dow 0,00  ↑+0        TSE 0,00  ↑+0        Japan: Nikkei 225 0,00  ↑+0        S. Korea: KOSPI 0,00  ↑+0        China: Shanghai Composite 0,00  ↑+0        Hong Kong: Hang Seng 0,00  ↑+0        Singapore: Straits Times 0,00  ↑+0        DJIA 0,00  ↑+0        Nasdaq Composite 0,00  ↑+0        S&P 500 0,00  ↑+0        Russell 2000 0,00  ↑+0        Stoxx Euro 50 0,00  ↑+0        Stoxx Europe 600 0,00  ↑+0        Germany: DAX 0,00  ↑+0        UK: FTSE 100 0,00  ↑+0        Spain: IBEX 35 0,00  ↑+0        France: CAC 40 0,00  ↑+0        

Wealth created in the long run

Article - September 25, 2012
The country and its people have benefitted from Marathon Oil's success
CATHERINE KRAJICEK, RESIDENT MANAGER OF MARATHON OIL
Houston-based international energy company Marathon Oil first entered oil-rich Equatorial Guinea in 2002 with the acquisition of a 63% working interest in the Alba field. Discovered in 1983 though not productive until 1991, Alba is a gas condensate field with total reserves in excess of 5 trillion cubic feet.

“We’ve seen tremendous change in the country, much due to the technology and national content development that has been facilitated to a large degree by the oil industry.” 

Catherine Krajicek,
Resident Manager of
Marathon Oil

Over the past decade, Marathon Oil has played witness to Equatorial Guinea’s rapid development and has seen how hydrocarbons have helped spur growth. “We’ve seen tremendous change in the country, much due to technology and national content development that has been facilitated to a large degree by the oil industry,” says Catherine Krajicek, Resident Manager of Marathon Oil.

A key player in the industry, Marathon Oil has played a central role in the country’s development as a whole: the company has initiated and taken part in numerous social responsibility initiatives to address critical health, social, education and other issues, and has provided education and training to enable the local workforce to participate in what is Equatorial Guinea’s most profitable sector. Indeed, Marathon Oil employs over 670 Equatoguineans.

Equatorial Guinea is important for Marathon Oil (26% of its international liquid hydrocarbon sales and 82% of its international gas sales come from here), and consequently, the company works hard to maintain its strong working relationship  with the government. “We work very hard to have close working relationships with the Ministry of Mines, Industries and Energy, GEPetrol and SONAGAS. In our day-to-day operations, they are consulted in every major decision,” says Ms. Krajicek.

  0 COMMENTS