Royal Dutch Shell will invest $415 million in areas of operations managed by Egypt-based Badr El Din Petroleum Company (BapetCo), a report said.

The investments aim to develop fields, excavate and make new discoveries, as well as increase production of oil and natural gas, added the Daily News Egypt report.

BapetCo is a joint venture between Shell and the Egyptian General Petroleum Cooperation.

“The investments for FY 2015/2016 include three main items: $268 million to implement the fields’ development projects; $97 million for business and operating expenses; and $50 million to dig exploratory wells,” Emad Hamdy, BapetCo’s chairman was quoted as saying in the report.

Hamdy added that the gas and oil production plan includes digging some development and exploratory wells. This is to compensate for the natural shortage that wells suffer so that production of the existing stations can reach its maximum power.

BapetCo aims to compensate for the natural decline in gas reserves by using new technology, such as water injection, to support the pressure of the consumed reservoirs, the report said.