The following is taken from a November 2001 Marathon Oil Corporation press release:

The Alba field, which began producing in 1991, is estimated to contain a producible resource of 5 trillion cubic feet of dry gas and 300 million barrels of condensate. Currently, 230 million cubic feet per day (mmcfd) gross of wet gas is produced, from which approximately 17,000 barrels per day gross of condensate and 2,400 barrels per day gross of LPG are recovered through process facilities on Bioko Island. Approximately 115 mmcfd of the remaining lean gas is then fed to the methanol plant. Marathon's net share of production is expected to average almost 18,000 barrels of oil equivalent per day (BOE/d) in 2002.

Plans have been submitted to increase gross production to about 800 mmcfd and expand the condensate recovery and LPG facilities to significantly increase the liquids processing capabilities. This should result in Marathon's net production increasing to 35,000 to 40,000 BOE/d by 2004.

"This acquisition will establish a new core business area for Marathon and is a great fit with our strategy of acquiring profitable growth opportunities that add substantial value, provide immediate cash flow and have significant upside potential", said Marathon president and CEO, Clarence Cazalot. "Furthermore, this is an important new step in growing our integrated gas business where the application of gas commercialization technologies will deliver added-value products for local, U.S. and European markets. I see Marathon becoming a significant regional player in West Africa as we build on our expertise across the energy value chain and the relationships we have already established in this part of the world."