Egypt has entered into three oil and gas exploration and production deals worth a total of $220 million with Total, BP and ENI's Egyptian subsidiary IEOC, the Oil Ministry, announced in a statement on Wednesday.

According to the ministry, the first deal was signed with a consortium of BP and IEOC and is worth $75 million, the second deal is worth $80 million and was entered into with a consortium of all the three companies, while the third deal was signed with BP alone and is worth $65 million, Reuters reports.

The three deals include the drilling for six wells, the ministry added.

Egypt in September, signed three agreements for oil and natural gas explorations expected to bring in new minimum total investments of around $595 million with BP, IEOC and Egyptian state-run Egyptian General Petroleum Corporation (EGPC) for exploration in Nile Delta, El Temsah, and Ras El Barr concession areas.

The agreements included the drilling of 12 new wells to produce more than one billion cubic feet of natural gas per day.

Egypt which was once an exporter energy has become a net energy importer in recent years, as a result of declining production and increasing consumption. The country Egypt is currently seeking other solutions so as to help the country cope.

Anita Fatunji