Despite the Macondo oil spill and the moratorium on deepwater drilling in the Gulf of Mexico, Marathon Oil’s primary activities in the Gulf of Mexico are not slowing down, the company told investors on its second quarter earnings conference call. Marathon reported that its deepwater Droshky development in the Gulf of Mexico is on time and under budget. The project consists of four development wells tied back to a third-party and expected to have a peak production of approximately 45,000 b/d of hydrocarbons and 30 million cubic feet per day (MMcf/d) of natural gas. Production at Droshky started Jul. 15, the first startup of production in the deepwater Gulf of Mexico since the US moratorium on drilling as a result of the Macondo oil spill. The US ban permits development drilling related activities.
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