Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) told investors it is now advancing towards the next operational phase of development in Tanzania, at its southern Rukwa project.
The company, in a statement on Monday, announced that a purchase agreement has been signed for an electrical submersible pump (ESP) and related equipment, which will be supplied by the CenerTech Group, part of China’s CNOOC.
Civil works have also now begun at the ITW-1 wellsite to support water disposal during upcoming ESP operations, which are expected to begin in the fourth quarter of 2025.
The company said this phase is designed to enhance flow rates and gain further data on gas composition.
"The ESP operations will enable us to increase flow rates and gain greater information on gas composition from the fractured Basement and Karoo intervals," said chief executive Lorna Blaisse.
"We look forward to providing further updates as operations commence and progress."