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Egyptian Petroleum Minister Karim Badawi on Sunday signed two agreements worth a combined $340m with Shell Egypt and Cheiron Energy to increase oil and gas production in the Mediterranean and Suez Gulf.

The deals are part of the government’s ongoing efforts to boost the country’s energy sector and attract foreign investment.

Badawo met with Shell Egypt Country Chair Dalia El-Gabry to discuss the company’s operations and future plans. Shell has been a key partner for Egypt’s petroleum sector, investing heavily in exploration, drilling, production, and liquefied natural gas in recent years.

The two sides agreed on a $222m investment in the tenth phase of gas production in the West Delta Deep offshore area. The project includes drilling three new wells and building offshore facilities. Shell is also preparing for the eleventh phase in the same area.

Work is currently underway to drill the three wells to put them on the production map at a rate of 150 to 200 million cubic feet before the end of this year.

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