BEIRUT, Nov. 26 (Xinhua) -- Lebanon and Cyprus on Wednesday signed a historic maritime boundary demarcation agreement, ending nearly two decades of deadlock that had hindered oil and gas exploration in the eastern Mediterranean.

The agreement was signed at the Baabda presidential palace near Beirut, followed by a joint press conference by Lebanese President Joseph Aoun and Cypriot President Nikos Christodoulides.

The two countries first reached a preliminary deal outlining their offshore zones in 2007, but ratification was delayed in the Lebanese parliament due to internal political divisions and regional disputes over maritime boundaries.

At the press conference, Aoun said the agreement would enable both sides to begin exploring offshore resources and strengthen bilateral cooperation. He also pointed to potential future joint initiatives, including projects in telecommunications, tourism, and security.

Christodoulides, for his part, called the deal a "strategic achievement," saying it would open new opportunities for both countries and boost regional energy cooperation.

"This historic maritime boundary agreement enhances prospects for positioning the Middle East as an alternative energy corridor to Europe," he said.

He also welcomed ongoing talks on an electricity interconnection project between the two countries and announced plans to seek World Bank support for a feasibility study.

Lebanon and Cyprus have long worked to formalize their maritime boundary to clarify exclusive economic zone rights in the eastern Mediterranean, a key area for offshore energy exploration. Previous efforts were stalled by regional disputes and overlapping claims, but renewed diplomacy has now enabled both countries to establish a mutually recognized demarcation line. Enditem