An agreement on the partial demarcation of the Exclusive Economic Zone between Greece and Egypt was reached in Cairo, where the Greek Minister of Foreign Affairs, Nikos Dendias, rushed to earlier on Thursday.

The agreement was announced by Egyptian Foreign Minister Sameh Shoukry.

“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.

“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.

According to Greek diplomatic sources, the agreement for the Greek-Egyptian EEZ will concern the southern part of the Greek-Egyptian maritime border and will be drawn up via the method of “straight baselines”.

Egypt and Greece condemned the deal as “illegal” and a violation of international law.

Earlier this month, Egypt said that 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.

Reuters