NORWAY: In January, Marathon Oil was awarded a 20 percent non-operated working interest in Production License (PL) 694 by the Norwegian Ministry of Petroleum and Energy as part of the country's 2012 Awards in Predefined Areas (APA 2012). PL 694 consists of three blocks south of the Sverdrup prospect area in the northern part of the Norwegian Sea. Also as part of APA 2012, Marathon Oil and its partners were awarded additional acreage in the North Sea north of the Alvheim area in PL 203 B. The Company's 65 percent working interest and role as operator are the same as PL 203.The Darwin (formerly Velsemoy) exploration well in the Barents Sea is expected to begin drilling in the first quarter of 2013 on PL 531, in which the Company holds a 10 percent non-operated working interest. Drilling is expected to commence in the third quarter of 2013 on the Sverdrup exploration well on license PL 330 where the Company holds a 30 percent non-operated working interest.
Marathon Oil Corporation Reports Fourth Quarter And Full-Year 2012 Results
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