Marathon Oil to Drive Gas Narrative as AEW 2022 Silver Sponsor
The US-based independent E&P company will consolidate its position in African energy by coming to African Energy Week 2022 as a silver sponsor.
Representing the voice of the African energy sector, the African Energy Chamber (AEC) believes in the significant role natural gas will continue to play in Africa. With over 620 trillion cubic feet (tcf) of proven gas resources – a figure that is expected to double as exploration campaigns take off in countries such as Nigeria, Zimbabwe and Namibia – the continent’s gas resources will not only be able to meet domestic demand, making energy poverty history by 2030, but kickstart long-term socioeconomic growth on the back of job creation, industrialization and revenue generation.
As such, the upcoming African Energy Week (AEW) 2022 conference and exhibition – set to take place from October 18-21 this year – will drive the narrative that gas is good for Africa. In line with this narrative, US-based independent exploration and production company Marathon Oil will be joining AEW 2022 as a silver sponsor, enhancing discussions around gas at the continent’s biggest energy event while consolidating its own position in Africa’s energy future.
While Marathon has focused on four of the most competitive resource plays in the US, it’s the company’s developments in Equatorial Guinea that have positioned it at the forefront of Africa’s gas growth. Since entering the Equatorial Guinean market in 2002, Marathon has driven one of the country’s, and Africa’s, biggest gas developments: the Punta Europa integrated gas development. Since 2002, Marathon has established the largest petroleum facility in Equatorial Guinea, comprising a liquefied natural gas (LNG) processing facility and one of the largest methanol production facilities in Africa.
However, the company’s gas development plans have not stopped there. With declining production of developed natural gas and associated liquids from the Marathon-operated Alba Field, the company has prioritized its next stage of development: the creation of a Gas Mega Hub, in collaboration with the Ministry of Mines and Hydrocarbons and project partners.
Under the leadership of H.E. Gabriel Mbaga Obiang Lima, Equatorial Guinea’s Minister of Mines and Hydrocarbons, the country is establishing itself as a regional gas hub, developing and expanding domestic processing and off-take infrastructure to be supplied by regional reserves. In addition to utilizing and therefore monetizing reserves in Cameroon, (with four tcf), and Nigeria (with 200 tcf), the Gas Mega Hub will increase domestic reserves through new exploration campaigns, and Marathon Oil is at the center of these developments.
While the company operates and maintains capacity at the processing facilities at Punta Europa, enabling the country to become a regional processing hub, Marathon Oil is additionally pursuing additional resource opportunities for future phases of the development. Working closely with the Equatorial Guinean Ministry, Marathon Oil has not only demonstrated the role gas hubs will play in Africa’s energy future, but the role public-private cooperation and partnerships play in developing competitive gas economies in Africa.
