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Ratification of the Framework Agreement between Cyprus and Egypt

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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.