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Reuters reported that Turkey is exploring for gas in an offshore zone where Cyprus started drilling last week leading to a dispute over Mediterranean resources.
Reuters reported that Turkey is exploring for gas in an offshore zone where Cyprus started drilling last week leading to a dispute over Mediterranean resources.
The market news is quoted as saying:
The question of who has the right to tap deposits in a region holding the world’s biggest natural gas find of the past decade has added urgency to efforts to settle the conflict over Cyprus, divided since 1974 into Greek and Turkish enclaves.
Last week, U.S.-based Noble Energy started drilling offshore on behalf of Cyprus in an area termed Block 12, south of the island. Turkey has pledged to drill for gas on behalf of Turkish Cypriots unless the Greek Cypriots stop.