Tensions high in Mediterranean over oil field

Warnings and threats backed by gunboat diplomacy have electrified the eastern Mediterranean region, where news of a possible major oil and natural gas field has created visions of unexpected wealth.
At stake are prospects for a major revenue source capable of transforming the economies of a large area centered on the divided island of Cyprus. Initial estimates from preliminary surveys indicate the possibility of $4 billion worth of oil below the bottom of the Mediterranean Sea, in antiquity the center of the world as it was known to Egypt, Greece and Rome.
Defying Turkey’s claims to a share of the suspected treasure, the Greek Cypriot government has solicited tenders for exploration, and an estimated 40 international firms have shown interest.
A sudden appearance of Turkish warships south of this Cypriot port reminded all concerned of the pitfalls lying ahead, similar to those that stymied efforts to explore for oil in parts of the Aegean Sea between Turkey’s Anatolian landmass and the Dodecanese islands of Greece.

Diplomats worry that the escalating exchange between Turkey’s capital, Ankara, and its Hellenic antagonists may further dampen faltering efforts to end the ethnic split on Cyprus.

Washington Times