Cyprus made an official declaration for the first time late last week, that it has found evidence of oil and gas deposits off its shores.
Michalis Papapetrou officially stated that "certainly there are positive indications of energy deposits according to preliminary scientific studies," reported AFP news agency. No further details were provided as to the extent of the deposits, yet it was stated that joint explorations would be discussed with Syria, Egypt, Israel, Lebanon and possibly Libya.
Cyprus is currently ready to have experts explore the possibility of the riches under the sea. Egypt's Petroleum Minister Sameh Fahmy is also expected to arrive to Cyprus toward end of September to further discuss the joint exploration issue. — (Mena report)
© 2001 Mena Report (www.menareport.com)
