Aragon aims to lead the game by pursuing hydrogen with a renewable edge, a symbol of the major energy policy commitments in Spain and Europe. Yet the autonomous community does not intend to be a raw producer alone, preferring to harness its vast capacity for renewable generation and to tap into the natural reserves of green hydrogen that lie beneath Huesca. The plan to turn this ambition into reality began with the approval of regional investments, a step that clears several technical and legal hurdles on the path to Europe’s first well of this kind.
The venture enjoys backing from British investors through Helios Aragon PTE, LTD, with initial permits granted to explore this energy source at Monzón. The project file is currently in the public disclosure phase, with the Aragon Institute of Environmental Management (Inaga) noting the Official Bulletin of Aragon’s statement on 10 May. The target is to perform the first drilling in 2024 and to commercialize the deposit for a 20-year period starting in 2028.
3,850 meter well
The hydrogen exploration well is planned to reach a maximum depth of 3,850 meters, according to environmental documents prepared by IdO Consulting. The initial profile will have a diameter ranging from 61 to 66 centimeters and will be drilled with standard equipment. Promoters emphasize that hydraulic fracturing, a controversial technique, will not be used, as it is prohibited by Spanish and Aragonese law. Drilling mud is described as an essential element of modern exploration technology.
The promoters anticipate a 900 million euro investment to start extracting these sought-after materials in 2028, with the aim of forming Europe’s first natural hydrogen hub. The project is expected to create about 300 direct jobs of high quality and around 1,500 indirect roles, boosting regional activity.
To achieve these projections, the Aragon government has issued an expressions of regional interest, underscoring the project’s goal to establish the first natural hydrogen and helium center in Aragon. In the coming weeks, a Zaragoza conference will highlight the initiative, inviting stakeholders and observers to weigh its potential.
Helios Aragon plans to produce about 55,000 tonnes of hydrogen annually from 2028, a level described as highly competitive. This output would amount to roughly 10% of Spain’s current market share, based on the Monzón concession. When the underground reservoir begins to decline, the project team proposes using an associated storage strategy that would store green hydrogen at rates similar to production, thereby ensuring a steady supply.
Current climate and energy law in Spain places limits on operation and commercialization phases of this project. Pure hydrogen not previously mined on the continent is treated as a hydrocarbon under some Spanish laws, even though its chemical composition differs, while formal exploration and exploitation of hydrocarbons have been limited since 2021. The company plans to seek an alignment of natural hydrogen use with the Spanish Mining Law, a step echoed by recent moves in neighboring France.
Industry experts refer to this gas as golden hydrogen, noting its rarity in a pure form and its common production from other substances. Market analysts estimate a competitive price around 0.75 euros per kilogram for natural hydrogen, versus green hydrogen prices in the 7–8 euro per kilo range when produced with surplus renewable energy.
Headquarters and energy experience in Singapore
In August 2018, Helios Aragon sought permits to explore natural hydrogen and helium, with approvals granted by the Government of Aragon in February 2020. In situ tests near Barbastro and Monzón indicated high readings, confirming potential in the area.
The regional authorization request to advance the project was filed on 28 February on behalf of Helios Aragón Exploration SL by Malaga-based attorney Ramón Castilla Fernández-Fábregas. As the parent company, with headquarters in Madrid and established in March 2018, the promoter also lists Singapore as its base, along with subsidiaries in Poland and the United Kingdom. The management team’s extensive energy sector experience includes roles at major firms such as Shell, Exxon Mobil, and BP, according to the regional administrator’s records, which frame the project as a regional investment priority.
Project history
Historical drilling in the region traces back to the 1960s when Empresa Nacional de Petróleos de Aragón SA (Ensapa) conducted systematic surveys to locate oil fields. The Monzón-1 exploration line, located roughly one kilometer southeast of the town center, produced results that largely ruled out hydrocarbons but indicated the presence of hydrogen in two areas—indirect evidence tied to the broader search for oil, rather than a targeted hydrogen study.
For decades, the scientific assumption held that substantial natural hydrogen deposits were unlikely. New research, however, has challenged that view by highlighting circumstances under which natural hydrogen could accumulate. Reports from recent investigations suggest the possibility exists, opening a path for new exploration strategies.
In this context, Helios Aragon considers a new research probe to confirm hydrogen presence and to characterize the reservoir environment near the Monzón-1 site. The plan includes understanding the storage rock, the reservoir seal, and potential source areas. The documentation specifies that the chosen research methods will avoid hydraulic fracturing or other disruptive techniques.