Helium One Global has signed a letter in intent (LoI) for an oil and gas drill rig for the drilling campaign planned to start during Q3 at Rukwa in Tanzania.
COST SAVINGS
The company, along with Australian firm Noble Helium also operating in the area, signed the agreement with Tunisian drilling contractor SOFORI* for the Drillmec HH102 rig.
The rig-sharing plan, following the recent co-operation agreement, will enable Helium One to save significant costs on mobilisation and demobilisation.
Helium One Global Ltd (LON:HE1) focus is to explore, develop, and ultimately, become a producer of high-grade helium for the international market, a critical material essential in modern technologies. The company holds 4,512km2 of exploration licences in highly prospective helium provinces in Tanzania. The Company holds 100% of these licences and has exclusive rights to develop the assets.