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7/26/2010 - MARATHON TURNS TAPS AT DROSHKY DEVELOPMENT
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Marathon Oil Corp. commenced production from 100%-operated Droshky development in the deepwater Gulf of Mexico. The development, which arrived on-time and under-budget, is expected to produce approximately 50,000 net barrels of oil equivalent per day at its peak, consisting of approximately 45,000 barrels per day of liquid hydrocarbons and 30 million cubic feet per day of natural gas.
Located in approximately 3,000 FSW (914 MSW) in Green Canyon Block 244, Droshky is a major subsea project consisting of four development wells tied back to the third-party Bullwinkle platform with dual, 18-mile flowlines.
At a final development cost of less than $900 million, the initial stage of development is expected to produce 35 million of the estimated 60 MMboe net resource. The company notes that future expansion of the project and ultimate total recovery will largely depend upon well performance.
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