Turkey, Egypt try to avert tension over Cyprus oil

Even as tension continues in the Mediterranean Sea due to the dispute between Turkey and the Greek Cypriots over oil and gas exploration, Ankara and Cairo are trying to avoid tension between their two countries.

Against Turkey’s strong objections, Greek Cyprus signed accords with Egypt in 2005 and Lebanon this year, delineating the undersea border to facilitate future oil and gas exploration between the Mediterranean country and the island.
Oil reserves in the sea around the island of Cyprus have been estimated to be worth around $400 billion.

Turkey had warned Greek Cyprus not to search for oil and gas in the area, where it says it also has legal rights and interests.

Ankara also warned Lebanon and Egypt not to press ahead with oil and gas exploration deals signed with the Greek Cypriots, saying that Turkey and the Turkish Cypriots also have rights in the region.

New Anatolian