Egypt and Greece on Thursday signed an agreement on the designation of an exclusive economic zone in the eastern Mediterranean between the two countries, Egyptian Foreign Minister Sameh Shoukry said.
The deal was announced after a meeting between Shoukry and 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,” Reuters quotes Shoukry.
“The agreement with Egypt is within the framework of international law, respects all concepts of international law and the law of the sea and good neighbourly relations, and contributes to security and stability in the region,” Dendias said.
The deal between the two countries comes months after Turkey signed a maritime delimitation agreement with the internationally recognised Libyan government, in a move that Reuters reports was the cause of an escalation of disputes over potential offshore gas reserves in the eastern Mediterranean.
Egypt earlier this month said part of a seismic survey planned by Turkey in the eastern Mediterranean potentially encroached on waters where Cairo claims exclusive rights.
In June, Greece and Italy signed an agreement on maritime boundaries, establishing an exclusive economic zone between the two countries and resolving longstanding issues over fishing rights in the Ionian Sea.