19.02.2015
U.S.-based oil and natural gas exploration and production company, Marathon Oil Corporation, today announced its capital, investment and exploration budget for the 2015 year, amounting to USD $3.5bn. Included in this budget is its announcement of a further USD $429m in spending on some of its international assets, primarily in Equatorial Guinea, the UK and the Kurdistan Region of Iraq. This increased investment will help in the further development of the Equatoguinean oil industry, and further solidify Marathon’s role in the country’s continued economic growth.
Aside from Marathon’s work in Equatorial Guinea’s oil industry, the company also takes part in a number of social responsibility initiatives which seek to promote the continued health and well-being of Equatoguinean citizens, as well as the sustained transparency of the national oil sector. According to Marathon, they work alongside the Government, business partners, NGOs and research bodies on such initiatives as:
- · The Bioko Island Malaria Control Project (BIMCP), an innovative and successful approach to eradicating malaria
- · The education, training and development of Equatoguineans to work in Marathon’s facilities
- · Efforts to improve maternal and infant health
- · Support for EG’s participation in the Extractive Industries Transparency Initiative (EITI)
Read more here: http://www.marathonoil.com/
Image via Wikimedia Commons
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