THE WOODLANDS, TEXAS, October 18, 2021 — Arena Energy, LLC “(Arena”), a leading independent oil and gas exploration company focused on the Gulf of Mexico Shelf, today announced a partnership with the Gulf Offshore Research Institute (GORI) to utilize three offshore platforms for scientific research and feasibility studies on emergent renewable technologies as part of its broader focus on the energy transition and sustainability.
The plan to repurpose the Arena platforms was recently formalized in a memorandum of understanding (MOU) with GORI, a nonprofit organization which collaborates with the offshore oil and natural gas industry, the scientific community, the military, and blue economy stakeholders to identify platforms near the end of production which can be converted to research hubs, renewable energy development, and other alternative uses.
The MOU between Arena and GORI details potential future uses for the platforms including Marine Monitoring, Energy and Environmental Research, Scientific Education and Training (MMEERSET) stations. The alternative uses for such platforms also includes offshore renewable energy and seawater mineral extraction. As part of the agreement, Arena will abandon and decommission the wellbores and provide a grant to GORI in the form of charitable contributions to fund the research and application process.
“Arena and our values are inspired by Theodore Roosevelt, a renowned conservationist. We are proud to be part of GORI’s important educational, research and conservation efforts, and believe the repurposing of these platforms will benefit stakeholders across the Gulf of Mexico,” said Mike Minarovic, co-founder and CEO of Arena Energy.
GORI plans to use MMEERSET stations for government and academic research and to conduct marine monitoring, including water quality, air quality, ocean movements, and hurricane tracking. ORE hubs will be designed for Ocean Thermal Energy Conversion but will also accommodate wind, wave, and solar energy equipment.
About Arena Energy
Arena Energy was founded in 1999 on the belief that mature producing areas of the Gulf of Mexico Shelf still held vast potential—and that with the right technology, talented oil and gas finders could unlock these drilling opportunities. Today, that vision has been realized many times over. Since its founding, Arena has grown into one of the largest private offshore oil and natural gas companies, having invested more than $4 billion of capital in the Gulf of Mexico, paid $1.2 billion in royalties to the federal government, and decommissioned over 300 wells and 45 platforms and other structures. Arena takes pride in safely and responsibly producing the energy that powers the United States and the world.
Senior Counsel & Director of Government Affairs