|Wednesday, September 08, 1999
Marathon Oil along with its co-venturer Santa Fe Snyder Corporation reported the start of production from the Tchatamba South field in the Kowe permit located 20 miles offshore, approximately 100 miles southeast of Port Gentil, Gabon. The Tchatamba South field is producing 22,000 gross barrels of 44-degree oil per day from two wells in 150 feet of water. Production from Tchatamba South and Tchatamba Marin is now being processed on the MOPU at near facility capacity of 40,000 barrels of oil per day. Reserves for the Tchatamba South field are estimated in excess of 27 million gross barrels of oil. Marathon has a 75 percent working interest in this development, and Santa Fe has the remaining 25 percent. Energy Africa Gabon S.A. holds an option to obtain a 25 percent working interest in the Tchatamba South field.