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UK-based Hotspur Helium company will hunt for helium gas in the Dead Sea region under an agreement signed with Jordan on Mondays.
George Percy, Chair of Hotspur Helium, signed a Memorandum of Understanding (MoU) with Saleh Al-Kharabsheh, Minister of Energy and Mineral Resources (MEMR) in Amman to kickstart the country’s first dedicated project to explore helium, a statement issued by the UK company and local media reports said.
“The importance of helium as a vital component in the growth of AI, aerospace and semiconductor manufacture; and the development of steady, reliable and geopolitically resilient sources of helium is now a strategic necessity,” said Percy.
Kharabsheh was quoted as saying that Hotspur Helium has submitted a two-year work programme, adding that a concession agreement would be considered if exploration results prove commercially viable.
Under the MoU, Hotspur Helium gets exclusive rights to explore 10,400 square kilometres (sq.km.) of the Dead Sea block. The company will undertake detailed surface exploration to delineate commercial helium accumulations within the acreage and to define high-priority drilling targets, with a view to progressing to a Production Agreement under the agreed commercial framework.
(Writing by N Saeed; Editing by Anoop Menon)
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