1. Northeastern Asia and vast areas of the adjoining shelf attract the attention of petroleum geologists, particularly after the discovery of many large oil and gas fields in structurally similar areas nearby, and in Alaska.

2. There are 18 possible oil-gas bearing basins in the northeast of USSR (excluding Kamchatka).

3. Geosynclinal basins (Khatyrka, Olyutorka, Korfovskiy) are linked with young depressions within the Olyutorka-Kamchatka system of the Cenozoides. These basins are characterized by the presence of orthogeosynclinal lithologic sequences, complex folding, and numerous oil and gas seeps that also are known on the adjoining shelf areas.

4. Proto-orogenic basins are confined to various intermontane areas. Their positions are defined by the geotectonic setting and the structure of the underlying late geosynclinal and postgeosynclinal rocks. Primary exploration objectives are in molasse complexes. Examples include: Momskiy, Indigirka-Zyryanka, Yamsk-Tauy, Kresty Bay, Anadyr, Penzhino, Parapol' and Pustoretsk basins. In the Anadyr basin, gas flows and definite oil shows were recovered in the wells which have been drilled.

5. Deutero-orogenic basins (Ulyogan, North Kolyma) in the area are found entirely within old middle Mesozoides massifs, and are characterized by the presence of two facies: The subplatform and molasse complexes.

6. Platform-type basins are confined to an extensive area of epi-Mesozoic depressions on the Arctic and Okhotsk shelves. These depressions are partly exposed on land. The Arctic group of basins is in depressions formed during the waning stages of the Mesozoides. It is possible that in the Arctic shelf conditions similar to those of Prudhoe Bay field in northern Alaska will be found.

7. On the basis of a comparative geologic-economic analysis, the most prospective and immediate objectives are the Anady basin, Indigirka-Zyryanka basin, the inland part of the Laptiyev-Yanskiy basin, and the inner zone of the Novobirsk basins. The large reserves for the future are on the shelves.

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