American independent Marathon Oil has achieved first gas production through its new Alba B3 offshore compression platform off Equatorial Guinea.
Production from the B3 platform allows Marathon Oil to convert approximately 780Billion cubic feet (or130 million barrels of oil equivalent),of proved undeveloped reserves, more than doubling the Company’s remaining proved developed reserve base in the Central African island nation.
“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,” said Mitch Little, Marathon Oil’s Vice President of Conventional resources.
Execution of the Alba B3 compression project involved engineering and construction in four countries with Heerema Fabrication Group (HFG) serving as the general contractor. An unnamed Equatoguinean construction firm fabricated both the platform flare and bridge structures as part of Marathon Oil’s commitment to building local capacity within the country.
Marathon Oil’s wholly owned subsidiary Marathon E.G. Production Limited holds an approximately 65% working interest in the Alba Field and is the operator, while Noble Energy, Inc. another American independent, owns approximately 35%