Cyprus, Israel to exchange info on hydrocarbon reserves

  • Business & Finance

Deputy Permanent Secretary of the Cypriot Ministry of Foreign Affairs Ambassador Tasos Tzionis and the Ambassador of Israel in Cyprus Michael Harari signed an Agreement on the exchange and protection of confidential information with respect to hydrocarbons discovered in Block 12 in Cyprus’ Exclusive Economic Zone (EEZ) and in its adjacent Block Ishai in Israel’s EEZ.

Cyprus, Israel sign hydrocarbons confidentiality agreementThe agreement was signed yesterday, April 28, in Nicosia.

Negotiations, which led to the signing of this Agreement, were held between the negotiating teams of the two sides from November 2013 until January 2014. The said confidential information will be exchanged for the purpose of assisting each Government in forming an opinion on the extent of hydrocarbons discovered in each of the aforementioned specific Blocks.

This Agreement forms part of the external dimension of Cyprus’ energy policy which inter alia promotes mutually beneficial cooperation with all the countries of the Eastern Mediterranean.

[mappress]

Press Release, April 29, 2014

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