This paper provides a brief overview of geology and petroleum geology of the Dniepr-Donets Basin (DDB) and the Ukrainian Carpathians. Selected examples reveal the significant undiscovered hydrocarbon potential of these provinces and show that it is due to the presence of a large number of promising but poorly explored hydrocarbon accumulations and traps. It is also shown that revision of the existing geological models of many known fields will significantly increase reserve estimates for these fields. This will permit an increase in the annual hydrocarbon production at each of the underexplored fields in a short period of time. The authors also show that the revision of geological models is needed for many structural traps. They failed to detect hydrocarbons, owing to ‘dry’ wells or wells that were not even tested, despite logging data, indicating the presence of hydrocarbon-bearing reservoirs. This will make it possible to bring into operation previously missed productive formations. Special attention is paid to predicting new hydrocarbon fields in underexplored areas of the Ukrainian Carpathians. Very important further research in the DDB should involve the revision of geological models of both productive and unproductive structural traps, associated with salt tectonics at depths penetrated by wells. As well, it should include exploration for new structural traps near salt stems and beneath the overhangs of salt diapirs, where they may be much more numerous than currently thought and larger in size. The implementation of the exploration and geological research discussed in this paper will ensure that Ukraine’s hydrocarbon resources will meet domestic demand for oil and gas and also become an important source of petroleum for Europe.
