Wednesday, 21 September 2011

Turkey and Turkish Cypriots Sign Oil and Gas Exploration Deal

Turkish state media say Ankara and the Turkish Cypriots of breakaway northern Cyprus have signed an agreement to explore for oil and gas in the eastern Mediterranean.
The reports say Turkish Prime Minister Recep Tayyip Erdogan and the president of the Turkish Republic of Northern Cyprus, Dervis Eroglu, signed the deal Wednesday on the sidelines of the United Nations General Assembly meeting in New York.
The deal, which was opposed by the European Union, came in response to a similar move earlier this week by the internationally recognized Greek Cypriots. Cypriot energy chief Solon Kassinis announced Monday that U.S. firm Noble Energy had started drilling inside Cyprus' exclusive economic zone south of the island, close to Israeli waters. Cyprus has commissioned Noble Energy for the project, which has been operating in the area off Israel's coast since 1998.

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