• Helium One launches process to find industrial partner for Southern Rukwa project.
• Recent well tests showed helium concentrations averaging 5.4%, peaking at 9.2%.
• Further drilling and development will require additional funding.

Helium One Global announced on February 16 that it has launched a formal process to identify an industrial partner for its Southern Rukwa helium project in Tanzania. The information was published in a statement released through the London Stock Exchange’s Regulatory News Service (RNS).

According to the company, the move follows the completion of a technical testing program on the Itumbula West-1 (ITW-1) well. Further development will require additional drilling and work to better assess the reservoir’s potential. Helium One said these next steps will require new funding, prompting the search for a partner and third-party financing.

Between January 26 and February 14, 2026, the company used a downhole pump to accelerate the lifting of subsurface fluids. According to the statement, helium rises to the surface along with these fluids, allowing the company to measure its share in the produced gas. Helium accounted on average for 5.4% of the measured gas volume brought to the surface, with peak concentrations reaching 9.2%.

Southern Rukwa is Helium One Global’s main asset in Tanzania. The project is located in the Rukwa Rift Basin in the country’s southwest. The company says the area contains natural helium concentrations of up to 10.4%, without association with hydrocarbons or carbon dioxide.

In 2024, an initial drilling campaign at the Itumbula West-1 well confirmed the presence of helium. During a subsequent test, gas brought to the surface contained up to 5.5% helium. In September 2024, the company applied to Tanzanian authorities for the right to develop a 480-square-kilometer area around the site. The authorization was granted in July 2025, allowing the company to move forward with development work.

Abdel-Latif Boureima