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This excerpt taken from the MRO 8-K filed Nov 1, 2005. Clarence Cazalot — Marathon Oil Corporation - President, CEO
Good afternoon, everyone. Marathon had another very strong operational and financial quarter despite the storm disruptions. And thankfully our employees and their families didn’t sustain any significant injuries during the evacuations or during the storms. And I’m really very proud of the way our employees have responded in an extraordinary manner, restoring operations both upstream and downstream shortly after the storms. But their response did not stop there, as the Company and our employees along with our dealers, jobbers and wholesale customers have now contributed over $8.5 million to the relief effort.
I think as I spoke to you at the last teleconference, we continue to focus on safety and environmental stewardship. Through September, we continue to have lower rates, both in safety and environmental incidents, almost across the board in our operations. As compared to both 2004 and compared to our goals for 2005. It’s an area in which we will continue to remain focused and vigilant.
Because of the hurricanes during the quarter, our entire Gulf of Mexico production was down for what amounted to more than one full month. While this reduced production and sales about 20,000 boe per day, as Ken already said, we were fortunate in that we didn’t sustain any major damage and have been able to bring back our production on stream to over 90% from the Gulf in a very timely
manner. During this period, we had very strong production results from Equatorial Guinea and Russia that helped to offset some of that reduced Gulf of Mexico output. EG Phase II, which is the liquid expansion, both condensate and LGP continues to exceed our expectations. And in Russia, our East Kamennoye Vickulov development continues to perform well, with total Russian production now in the 30,000 barrel per day range and I would remind you that at the time we made the acquisition, in mid-2003, production from that asset was 15,000 barrels per day.
Our development projects are progressing as planned. The Alvheim Vilje project in Norway is 29% complete and progressing on schedule, and we continue to look at options to tie back the 2004 Hamsun discovery to this development. And as Ken mentioned, we continue to have exploration success, with our two Angola discoveries in this quarter, bringing the total discoveries in blocks 31 and 32 now to 12.
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