Eni S.p.A. (E)

[eFinanceMarkets]

$E Cyprus accuses Turkey of threatening to use force against a drillship chartered by Eni (NYSE:E), as tensions rise over a standoff involving drilling rights in the eastern Mediterranean Sea.

Two weeks ago, the Turkish navy in the Mediterranean stopped the vessel on its way to drill for gas offshore Cyprus; Turkey claims some areas of Cyprus’s offshore maritime zone as its own.

Eni likely will need to move the drilling ship but will not relinquish its interests in the area, says CEO Claudio Descalzi.

“We’re used to having potential disputes," the CEO says. "We did not pull out of Libya or other countries where there were complicated situations."