Turkey’s exploration for Oil and Gas around Cyprus fuels tensions with neighbours
Turkish state-owned oil company, Turkish Petroleum Corporation has begun exploration for oil and gas around Cyprus straining relations with internationally recognised Republic of Cyprus, who claim the drilling areas are within their Exclusive Economic Zone. Furthermore, dozens of Greece islands, popular holiday destinations providing a rich source of income for the Greek tourist industry and a life line for the flagging Greek economy lie within the drilling zone.
However, Turkey retorts that Cyprus is drilling in a southeast offshore area adjoining a gas field in Israeli waters reputed to be the world’s largest find in the past decade, following a Cypriot-Israeli agreement.
Full article from Upstream.