Energy Sum

LSU Center for En

Oct

Louisiana R
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Except for historical information, this presentation contains fo

looking information with respect to the construction of an expaproject at the Garyville refinery. These statements are subject and uncertainties that could cause actual results to differ matefrom those expressed or implied from such information. In acc

with the “safe harbor” provisions of the Private Securities LitigReform Act of 1995, Marathon Oil Corporation has included in Report on Form 10-K for the year ended December 31, 2006, ansubsequent Forms 8-K and 10-Q, cautionary language identifyiimportant factors, though not necessarily all such factors, that cause future outcomes to differ materially from those set forth forward-looking statements.

Forward Looking Statement
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Garyville Refinery Today

 550 Employees 350 Full Time 

Contractors

 OSHA VPP Star EPA Performance 

Track

 18th Largest US 

Refinery

 Last Grassroots U

Refinery-1976
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Garyville Major Expansion 

 Projected $3.2 billion Project Full conversion new refinery Ability to process wide 

range of crudes

 Adds 7.5 million gallons per 

day of clean fuels 

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Garyville Major Expansion 

 Crude 180,000 BPD 180,000 BPD

 Coker Coker 44,000 BPD 44,000 BPD

 Reformer Reformer 65,000 BPD 65,000 BPD

 Hydrocracker Hydrocracker 70,000 BPD 70,000 BPD Kero Hydrotreater 47,000 BPD Kero Hydrotreater 47,000 BPD Sulfur Plants Sulfur Plants Hydrogen Plant Hydrogen Plant

 Tanks & Utilities Tanks & Utilities

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U.S. Refined Product Supply

and Demand 

12,00014,00016,00018,00020,00022,000

1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005

MB/D

A product gap characterized by growing volume and fuel co

Demand Supply

Source: DOE
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Investment Basis

*Range includes survey data from CERA, Purvin & Gertz, DOE and others

0

102030405060708090

1990 1995 2000 2005 2010 2015 2020

WTI ($/BBL)

WTI Range* 3-2-1 Range* GME Startup 2000-2004 Five-Year Average WTI Price = $31.00/bbl WTI 3-2-1 = $4.70/bbl
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Garyville Major Expansion  Logistics available to participate in 

world markets

 Expansion economics are 

favorable to a grassroots construction

 Gulf Coast construction costs 

competitive with India and Middle East

 Leverages Marathon’s most 

efficient and profitable downstream asset

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Date and Tracking Info Here

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Construction Site
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2004 2005 2006 2007 2008 

Conceptual Phase

Feasibility Phase

FEED

Permitting

Design and Construc

MOC Board Approval $3.2 Billion

Announced $2.2 Billion Expansion

Project Timeline
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Construction Schedule
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Construction Highlights 1 million cubic yards of dirt 20,000 piles to drive 300 miles of pipe 1,100 miles of wire and cable Worldwide Engineering-US, Mexico, India, Philip Worldwide Procurement-US, Far East, Europe
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Major Contractors
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Job Fair
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Incentive Programs

 LDEQ Expedited Permitting Program Gulf Opportunity Zone Bonds Quality Jobs Program Industrial Property Tax Exemptions 2006 Energy Bill 50% Expense 

Election

 State Training Grants
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Economic Impacts 2000-4000 Construction Jobs 280 Full Time Marathon and Contractor Jobs $60 million Parish Sales Taxes  $500 million Local Business Transactions $30 million Taxes from Indirect Economic Activity
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www.MarathonGME.com
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