The international court, I assume you mean the ECHR is trying to get itself out of a situation where it is inundated with lawsuits by GCs. The court ruled in past cases that Turkey, as an occupying power, is liable for preventing possession and enjoyment of the lands of GCs who sued. Now it is discussing the legality of the lands commission set up by the TRNC government. But the point is not whether people can be compensated, the remedies are not for compensation, they are "in rem", the return of the thing (the land) itself. The TRNC has no power to ask the Turkish army to provide such remedies. So the situation is pending till the final hearings of the first test cases.
The oil is an interesting one. If there is oil in the south of the island then Turkey will have to decide its policy on CYprus. If it is partition then that part is clearly within the jurisdiction of what Turkey calls the "Greek Cypriot Administration". If it is to be shared in common then partition will have to be abandoned as a policy in favor of a unitary state (bicommunal and biregional but still one state).
The problem though is first to find the oil and then bring it to the surface. Some parts of the Med in this region are 4000 meters deep! It is interesting also that the first country to remind Turkey that Cyprus has a right to exploit its oil resources was the USA. Considering that some of the companies involved are American and that the US 6th fleet has more firepower in the Med than all coastal states combine, it is a serious statement.