Cyprus and Lebanon to sign agreement on exclusive economic zones

Cyprus Foreign Minister George Lillikas will be traveling to Lebanon in the following days to sign an agreement for the determination of the exclusive economic zones between the two eastern Mediterranean countries.
This was confirmed here today by Cyprus Minister of Commerce, Industry and Tourism Antonis Michaelides, who said the Exclusive Economic Zone of Cyprus must be determined in cooperation with all its neighbours.
He noted that the Exclusive Economic Zones between Egypt and Cyprus have already been determined with a bilateral agreement signed during a visit by Cyprus President Tassos Papadopoulos to Egypt.
The minister explained “that is is why our first actions in the framework of research and oil extraction are confined, at this stage, in the economic zone between Cyprus and Egypt. Similarly, we will follow the same way with the other neighbouring countries”, the Cypriot official added.
Solon Kassinis, Director of the island’s Energy Department told the press that an international competition for research and hydrocarbon exploitation within Cyprus’ exclusive zone would be soon announced.
He expected that works would begin by the end of this year.