Egyptian- Cypriot cooperation in the area of gas, oil

The Egyptian minister of the economy Butrous Ghali will pay a visit to Cyprus in April to discuss the possibility of establishing cooperation between the two countries in the areas of oil and gas exploration.

The Cypriot minister of commerce Nicos Rolandis said that he had invited Minister Ghali to visit Cyprus in April and will discuss with him the issue of oil investment. The visit will last for three days.

Earlier in December 2000, the Cypriot minister held oil talks in Cairo with the Egyptian minister of oil Sameh Fahmi.

However, a Cypriot daily said that the possibility of having oil reserves off the Cypriot coasts had promoted the authorities, according to the international naval law, to demarcate the continental platform, so as each of the neighboring countries will honor its borders.