Resource explorer Renergen has made another discovery of helium with high concentration (1.9%) at its Virginia gas project in the Free State
The company, which is listed on the JSE and in Australia, is commercialising its resources such as liquefied natural gas, which is an alternative to diesel and has a relatively smaller carbon footprint.
Helium is a colourless, odourless and lighter-than-air inert gas and a key nonrenewable resource used in a variety of industries for its cooling properties.
“The significance of this discovery cannot be overstated,” CEO Stefani Marani said in a statement.
“While drilling the well was risky with a low conviction of success, the team did its homework and we decided to drill the well to confirm if this fault is gas-bearing, and more importantly whether it contains helium. I cannot express how proud I am of the team and its achievements on a 5 for 6 drilling campaign.”
Helium, which is in high global demand, is important for the medical industry and is used for cooling in magnetic resonance imaging (MRI) machines. It is also needed for the manufacture of fibreoptic cables, cooling during the production of nuclear power and the propulsion of rockets into space.
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