US DOE approves $480m loan for Arena Energy’s Project Elkhorn 

The US Department of Energy (DOE) has finalised a $480m loan for Arena Energy’s wholly owned subsidiary Elkhorn Offshore for Project Elkhorn, an offshore oil and gas project off Louisiana in the Gulf of Mexico.

The loan, provided through the department’s Office of Energy Dominance Financing (EDF), will facilitate the modernisation of 22 offshore platforms in the Southern Eugene Island area.

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Arena intends to use the funding to retool, refurbish, repower, and upgrade offshore infrastructure.

This story was originally published by Offshore Technology. Read the full story at Offshore Technology →