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NEWS BULLETIN

September 11, 2003 --- Vol. 9, No. 87September 2003

Marathon to drop staff to 12 in Anchorage

The Sept. 7 edition of Petroleum News reported that Marathon Oil was realigning and, in the process, eliminating staff positions.

In its Anchorage field office the company said it employee numbers are expected to drop from 42 at the end of last year to 12 at the end of this year.

Production staff in Kenai, Alaska, will not be impacted by the cuts, Marathon Oil spokesman Paul Weeditz told Petroleum News.

In Cody, Wyo., employee numbers will fall from 70 at the end of 2002 to 26; in Lafayette, La., they will drop from 21 to 10; and in Midland, Texas, employee numbers will be reduced from 166 to 10 by the end of this year.

Some of the positions will be relocated to Houston, Weeditz said.

The company expects the changes to result in an annual pre-tax cost savings in excess of $65 million. Further cost reductions are expected from outsourcing some services and functions, Marathon said.

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