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Cyprus An Oil Source For Europe?
Cyprus may be a potential source of oil for the EU as part of the 15 nation bloc's strategic policy to develop new energy sources inside Europe.
Speaking to the Cyprus Weekly newspaper on the fringes of the EU Council of Ministers meeting during which the Union authorised negotiation of a new framework agreement with Cyprus, German Euro MP Rold Linkohr said Europe, with its growing demand, needs to limit its dependency on external oil imports.
Oil was discovered recently on the continental shelf between Cyprus and Egypt and negotiations on means of exploiting the find are said to be ongoing.
"Cyprus shouldn't worry about investment", Linkohr said, "If oil prospects are confirmed the industry will certainly make many offers".
The Euro MP went on to describe Cyprus' participation in EU programs for marine science as a logical and feasible path for the island.
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