Marathon Oil Corporation, through its wholly owned subsidiary Marathon Oil Exploration Limited, has signed an exploration and production sharing contract (EPSC) for Gabon offshore Block G13, which was named Tchicuate upon signing, located in the deepwater, pre-salt play. The Company was the high-bidder on the block in Gabon's licensing round in October 2013.

"We're pleased to finalize the EPSC on the newly named Tchicuate Block, which is located in the high-potential, pre-salt play offshore Gabon," said Mitch Little, Marathon Oil vice president, International and Offshore Exploration and Production. "The addition of the Tchicuate Block aligns well with our strategic focus of capturing quality and material resource in proven and emerging oil provinces, and adds depth to the Company's exploration portfolio, following our 2013 Diaman-1B discovery on the Diaba Block offshore Gabon."

Tags: Marathon Oil Corporation