Helium Exploration in Tanzania to Start in 2018
Tanzania’s Deputy Minister for Energy and Minerals Dr. Medard Kalemani said during a recent parliamentary session that helium exploration in Lake Rukwa is expected to start next year. Around 54 billion cubic feet (Bcf) of unrisked prospective recoverable helium resource have been recently estimated in the Lake Rukwa area in Southwestern Tanzania.
Dr. Kalemani clarified that actual production
would start after the completion of all the necessary studies and environmental
impact assessment.
“The government needs to ascertain
the amount of gas available before issuing any production licenses,” he added.
Currently, Helium One Limited hold an exploration license for helium gas in
Rukwa Region.
n March 2017, Solo Oil plc (AIM:
SOLO), an oil and gas investment company with assets in Tanzania (natural gas),
West Africa, the UK, and Canada, announced that it has agreed to acquire a 10%
interest in Helium One Limited for a total consideration of GBP2.55 milliob.
Solo has also been granted a 90-day
call option to increase its investment in Helium One by a further 10%, for an
additional investment of GBP 4 million.
According to Neil Ritson, Solo’s Chairman “The
global helium market is anticipated to see a sharp drop in supply in the next
five years as the US Strategic Reserve ceases sales, and with helium’s
increasing use in modern life, such as MRI scanners, Solo has identified Helium
One’s world-class assets in Tanzania as a compelling and complementary
investment for Solo’s portfolio of oil and gas investments.
” Global demand for helium is
growing at a rate that is outstripping supply, which presents a significant
pricing opportunity for future producers.
Tanzania has been identified as a
key country for helium exploration based on the evidence of surface gas seeps
in the geological rift valleys adjacent to the Tanzanian Craton, as well as its
strategic location for global exports through its deep-water port at Dar es
Salaam.
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