Marathon Oil Corporation Provides Asset Divestiture Update

HOUSTON, May 23, 2013 (GLOBE NEWSWIRE) -- As previously announced, Marathon Oil Corporation (NYSE: MRO)had engaged in discussions with respect to a potential sale of aportion of the Company's 20 percent outside-operated interest inthe Athabasca Oil Sands Project (AOSP) in Alberta, Canada.  Anagreement was not reached with the prospective purchaser andnegotiations have been terminated. 

Marathon Oil is not engaged in further discussions with respectto a potential sale of these assets; however, the Companywill continue to evaluate ways to optimize its portfolio forprofitable growth and to deliver value toshareholders.  As such, the Company's statedgoal of divesting between $1.5 billion and $3 billion in assetsover the period of 2011 through 2013 remains intact. As of May 22,2013, Marathon Oil has agreed upon or closed on approximately $1.3billion in divestitures.

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This release contains forward-looking statements withrespect to projected asset dispositions through 2013. Thesestatements are based on current expectations, good faith estimatesand projections and are not guarantees of future performance.Actual results may differ materially from these expectations,estimates and projections and are subject to risks, uncertaintiesand other factors, some of which are beyond the Company's controland difficult to predict. In accordance with the "safe harbor"provisions of the Private Securities Litigation Reform Act of 1995,Marathon Oil Corporation has included in its Annual Report on Form10-K for the year ended December 31, 2012, and subsequent Forms10-Q and 8-K, cautionary language identifying important factors,though not necessarily all such factors, that could cause futureoutcomes to differ materially from those set forth in theforward-looking statements.
CONTACT: Media Relations Contacts:         Lee Warren: 713-296-4103         John Porretto: 713-296-4102                  Investor Relations Contacts:         Howard Thill: 713-296-4140         Chris Phillips: 713-296-3213

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