The procedures for the possible extraction of hydrocarbon deposits in the exclusive economic zone of the Republic of Cyprus started today.
The opening ceremony of the 1st round of permits on the submission of applications for the exploitation of hydrocarbon started at 10.00 am today at a central Nicosia hotel and was attended by the Egyptian Oil Minister, Amin Fahmy, foreign ambassadors and experts, state officials, leaders and party representatives.
From today and for the period of 5 months, the companies will receive all necessary information on the issue and will be able to submit their applications for further search in certain areas in mid July.
Addressing the opening ceremony, the Egyptian Oil Minister, Amin Fahmy said that Egypt and Cyprus were in constant deliberations in the past few years and through the exchange of views and ideas the two countries envisaged a future cooperation in the sectors of oil and natural gas. Mr. Fahmy ensured that the Egyptian Oil Ministry will cooperate closely with Cyprus, offering all the necessary support and experience to help the latter achieving its future plans in the natural gas and oil sector.
Minister of Commerce, Industry and Tourism, Antonis Michaelides, stated that the presence of the Egyptian officials is a proof that Egypt respects the international law and the treaties that govern the search procedures and the possible extraction of oil in the area, as well as the independence and the dominant rights of the countries.
Similarly, Foreign Minister, Giorgos Lillikas expressed his content on the latest developments, stressing that after three years the procedure has reached a critical point today.
The opening ceremony of the 1st round of permits on the submission of applications for the exploitation of hydrocarbon started at 10.00 am today at a central Nicosia hotel and was attended by the Egyptian Oil Minister, Amin Fahmy, foreign ambassadors and experts, state officials, leaders and party representatives.
From today and for the period of 5 months, the companies will receive all necessary information on the issue and will be able to submit their applications for further search in certain areas in mid July.
Addressing the opening ceremony, the Egyptian Oil Minister, Amin Fahmy said that Egypt and Cyprus were in constant deliberations in the past few years and through the exchange of views and ideas the two countries envisaged a future cooperation in the sectors of oil and natural gas. Mr. Fahmy ensured that the Egyptian Oil Ministry will cooperate closely with Cyprus, offering all the necessary support and experience to help the latter achieving its future plans in the natural gas and oil sector.
Minister of Commerce, Industry and Tourism, Antonis Michaelides, stated that the presence of the Egyptian officials is a proof that Egypt respects the international law and the treaties that govern the search procedures and the possible extraction of oil in the area, as well as the independence and the dominant rights of the countries.
Similarly, Foreign Minister, Giorgos Lillikas expressed his content on the latest developments, stressing that after three years the procedure has reached a critical point today.
3287.99
1275.09
