|
A Cypriot minister said on Monday that hydrocarbon and other types of energy deposits showed positive potential in the sea area south of Cyprus.
Minister of Commerce, Industry and Tourism George Lillikas told a press conference that there are possibilities of finding hydrocarbon deposits in the southeastern Mediterranean and the eastern Mediterranean would become an important center for international oil companies in the future. "We do not want to raise premature and high hopes among the people. What we can say at this point is that the first messages we received are positive and encouraging," said Lillikas, referring to positive indications of the hydrocarbon deposits.
He said that gigantic steps were expected in the area on a research level in five to 10 years.
The minister said that the Cypriot government is proceeding with the evaluation of the island's energy potential.
Earlier, local press has reported that a seismic survey exploring the possibility of oil or gas reserves within Cyprus territorial waters had already been completed and is currently being assessed.
The issue has risen to the fore in recent days, with an official visit to Egypt by President Tassos Papadopoulos in early May.
During the visit, Cyprus and Egypt signed several bilateral agreements, covering joint cooperation in oil and gas exploration and joint exploitation of hydrocarbons discovered in the future. | 
