Marathon Oil makes North Sea commitment – but for how long?

US firm Marathon Oil has renewed its commitment to the UK North Sea by extending the lease for its offices in Aberdeen.

The Houston-based company refused to say how long the new terms are for, how much it has invested or if it continues to use the same space at Marathon House at Hill of Rubislaw as before.

And it declined to say how many people it employs in the Granite City.

But it did say Hill of Rubislaw was a “core business location”.

Property owner Kennedy Wilson Europe (KWE) Real Estate said the oil firm’s new commitment was for 31,500sq ft of Marathon House.

Mike Pegler, head of UK asset management, KWE, added: “Whilst the economic climate in Aberdeen still proves challenging, the early months of 2017 have shown a renewed optimism.

“It is encouraging to see one of the Hill’s largest and longest standing occupiers, Marathon Oil, recommit to the area and use Marathon House as the base for its European headquarters.

“We are committed to the north-east of Scotland, and are currently undertaking an extensive repositioning programme at the Hill of Rubislaw to ensure Aberdeen has a modern and thriving business hub fit for growing, ambitious companies.”

CBRE and Ryden acted for Kennedy Wilson Europe and Savills represented Marathon Oil.

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