Tomb Raider Underworld Strategy Guide 5: Mediterranean Sea, Part 4
You will come to a room with gears and the squid’s tentacles tangled up in them. There is a ledge you can hang from that will take you to a floor below. Hang off and then shimmy around the corner as far as you can go. You can haul yourself up, and then jump off to a slide that will take you safely and without damage to floor.
Use the grapple to latch on to a ring, and then drag the line to pull some gears out. You will make a squid somewhat angry as some rocks come down. Jump up to a ledge, then to another. Slide down a little and jump to a pole, and flip off to the ledge there. Shimmy all the way to the left, and haul yourself up.
Go ahead and pull the lever, and some gears will start spinning. This will really get the squid angry, and will put you in a position where you can kill the kraken. From here, you can leave the room and jump from the chandelier to the water below. You will have to do this by jumping on the hands which are not very good places to stand, by the way, so be careful.
Now, when you are one the chandelier, pull the lever. The chandelier will rise, and you should note where it stops. There is a weak link in the chain. You will soon be at a top where you can use B to grapple-swing over. Target and shoot the weak link with your guns. The chandelier will fall on the big kraken, clearing a doorway to enter in.
I believe that there is another lever over in that area that you can pull in case you missed the wink link earlier. I found that after the weak link is broken, and the chandelier breaks, you cannot pull either lever again.
From there, it is pretty easy to just use the grapple on the B prompt, and then lower yourself down. Enter into the door, and swim in the pool all the way to the end.
You will soon come to a place where there is a gold gate. You may notice that to the left and right of it are two weight sensitive areas that will cause the locks on the side of the gate to fall. Explore the room, and you will find an area where a gaping hole is a little up and to the right. What you need to do is do a chimney jump (bouncing from left and right) to this hole. From there, hang on to the other side, and then release yourself.