Egypt and Greece sign agreement on exclusive economic zone

CAIRO (Reuters) – Egypt and Greece signed an agreement on Thursday designating an exclusive economic zone in the eastern Mediterranean‮‮ ‬‬between the two countries, an area containing promising oil and gas reserves, Egyptian Foreign Minister Sameh Shoukry said.

Shoukry made the announcement at a joint press conference with his Greek counterpart Nikos Dendias in Cairo.

“This agreement allows both countries to move forward in maximizing the utilization of the resources available in the exclusive economic zone, especially promising oil and gas reserves,” Shoukry said.

In Greece, diplomats said the deal effectively nullified an accord between Turkey and the internationally recognised government of Libya.

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