Cyprus Gas Drilling Update

Huffington Post reported that Noble Energy (NYSE: NBL) will start exploratory drilling to confirm oil and gas deposits under the sea bed off Cyprus’ southern coast despite Turkey’s attempts to prevent it.

The market news is quoted as saying:

Turkey strongly opposes Cyprus’ offshore gas search, saying that it disregards the rights of breakaway Turkish Cypriots on the divided island. Cyprus was split into a Greek Cypriot south and a Turkish Cypriot north in 1974 when Turkey invaded after a coup by supporters of union with Greece.

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