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Cyprus > Legal Developments > Law firm and leading lawyer rankings

Editorial

Ratification of the Framework Agreement between Cyprus and Egypt

The House of Representatives has ratified on January 27 of 2012 the Framework Agreement between the Republic of Cyprus and the Arab Republic of Egypt relating to the development of cross-median line hydrocarbon resources signed in 2006.

This ratification is part of the general endeavours of the Republic of Cyprus to establish a relationship of cooperation with its neighbouring States on issues of mutual interest in the field of oil and gas. The Framework Agreement deals and determines the principles of the parties’ cooperation in relation to the development of hydrocarbons resources where such resources extend beyond the median line. It specifically provides for the exchange of information on matters of oil and gas between the two countries and the joint exploitation of hydrocarbons reserves, though a more detailed agreement (Utilization Agreement) stipulating these principles will follow in the future.


For more informationn please visit www.kyprianou.com.cy

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