Marathon Oil has signed with e-commerce portal NetworkOil for the online sale of surplus oil field equipment worldwide. Network Oil will provide Marathon with a range of ‘strategic investment recovery services’ designed to ‘maximize the value of idle equipment.’
Marathon Oil global supply chain manager, Dana Porter said, “This approach breaks new ground for Marathon and raises the role of investment recovery to a strategic level. NetworkOil is a specialist in this area, with the right combination of experience, traditional business capabilities and technology know-how to make this venture a success.”
Sales events will likely include negotiated sales, traditional gavel auctions and Internet auctions. NetworkOil COO Kevin Bartol added, “We are looking forward to working with Marathon to maximize its return on the sale of surplus equipment. We are able to do this by implementing a proven, well-planned and efficient process, and by taking care of all the details on Marathon’s behalf.”
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