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In 1949 an historic oil field was discovered under the Caspian Sea. The field was named “Neft Dashlari, which in Azerbaijani means “Oil Rocks,” and it was a milestone in the development of the global oil industry. Oil Rocks, an iconic “city in the sea,” pointed the way to modern offshore drilling as we know it today.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/oil-rocks-hero.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true Oil Rocks: Early Offshore Production from the Caspian City in the Sea

Are years of upstream oil and gas underinvestment and under-exploration finally catching up with the world? Is the hope of avoiding a climate catastrophe now a lost cause? Can the global energy industry deliver adequate, affordable energy to meet the world’s future needs? Is the word in an energy crisis? Annually at midyear, a number of organizations publish overviews of the global energy picture. Based on those reports, there is good news. And bad news.

Show more American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/is-the-world-in-an-energy-crisis-hero.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true Is the World in an Energy Crisis?

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