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Cyprus > Legal Developments > Law firm and leading lawyer rankings

Editorial

Cyprus Parliament unanimously ratified an agreement between Cyprus and Israel

On 18/02/2011, the Cyprus Parliament unanimously ratified an agreement between Cyprus and Israel that defines the sea borders ("Exclusive Economic Zone" - "EEZ") of the two states and allows for the initiation of the exploration process for oil and gas in the Eastern Mediterranean.

It provides for the co-operation between the two countries, in the event that such resources are discovered and they extend from the EEZ of one state to that of the other, to achieve a framework-agreement on ways of sharing and commonly developing such resources. The agreement delineates the EEZ between the two countries, as per the Annexes that compliment the agreement, which have not been made available to the public as of yet.  



C.D. Messios LLC has a long standing experience in advising Israeli based clients and we hope we will be able to gain more instructions in this field.  

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