Oil has certainly led to its fair share of disputes around the world, but it is not normally the cause of tension in the Mediterranean -- until now.

A new row has erupted between the governments of Cyprus and neigboring Turkey over oil. Cyprus has vowed to press ahead with oil and gas exploration off its coast, despite strong objections from Turkey.

"We will exercise our sovereign rights," President Tassos Papadopoulos said Wednesday, although he admitted that Cyprus was uncertain if the fuel deposits off the island's southern coast were even sufficient for exploration. Turkey and Turkish Cypriots have objected to Cyprus opening up bidding to international oil companies.

Speaking after talks with Greece's Prime Minister Costas Karamanlis in Athens, Papadopoulus insisted: "The exploitation of deposits, if they are located in commercially exploitable quantities -- and that is a major if -- will be handled accordingly."

The government in the Cypriot capital Nicosia opened bidding for 11 offshore areas last week. It claims that American, Russian and Chinese oil firms have already expressed an interest in exploring the sites. Cyprus has already signed deals with Lebanon and Egypt to mark out its Mediterranean sea boundaries, despite Ankara's objections.

Karamanlis said it was "self evident" that Cyprus had a right to conduct offshore exploration, and that Turkey was "obliged to maintain good neighbourly relations and conform to international law."

Papadopoulos accused Turkey of engaging in "threats and provocations" because it had warned Cyprus not to go ahead with the project. Ankara has said that exploration would conflict with Turkish rights in the area, as well as those of Turkish Cypriots and that any benefits would only go to Greek Cypriots.

Turkish officials have said that they are going to proceed with their own exploration plans, something that is making Athens uneasy in turn. Greece and Turkey came close to war in 1987 due to a previous dispute over oil rights in the Aegean Sea.

The island of Cyprus has been divided into a Greek Cypriot south and Turkish Cypriot north since Turkey invaded the island in 1974. Turkey -- the only country in the world to recognize the breakaway Turkish Cypriot republic -- does not recognize the southern state, which is a member of the European Union.