Russian specialists conducted theoretical foundation of structure and evolution of large tectonic elements, developed a principal model of oil and gas basin formation procedure of geodynamic analysis of sedimentary basin and of oil and gas areas. Regarding petroleum development, Tatarstan is believed to have been thoroughly explored. In 2004, the Republic will produce more than 30M tons of oil. This production level has been possible to achieve through the use of innovation technique of drilling, production and development as well as the up to date methods of enhancing oil recovery (EOR). The Republic of Tatarstan is the richest in oil among the regions of the Russian Volga-Urals oil province. Its oil reserves are characterized by 26 proven and 6 promising oil and gas bearing stratigraphic horizons, 96 oil ﬁelds consisting of more than 2,800 accumulations, and around 150 bitumen deposits. In the depletion stage of petroleum development, with the hard to access hydrocarbons making about 80 percent of total reserves, major growth of oil production is supposed to result from the most recent exploration. This production level has been possible to achieve through the use of innovation technique of drilling, production and development as well as the up-to-date methods of enhancing oil recovery. Most ﬁelds in Tatarstan are depleted, the regional oil beds have been fully studied, and today’s exploration activities have to focus on small ﬁelds and the complex, hard to access pools located in less promising areas. Also, additional exploration and recalculation of available resources must frequently be done in the previously discovered ﬁelds. All these factors make any increases in potential reserves more difﬁcult, but the old petroleum areas in Tatarstan still have some potentials to play an important role in the future. An increase in production rate at major ﬁelds of the region in late stages of their development was possible to reach by both conventional approaches, such as more detailed exploration that nowadays plays a major role in oil production, and unconventional methods. The available reserves should be replenished both through the EOR and conventional exploration methods. By today, 11 areas in central Tatarstan have been licensed and 15 more areas in central and western Tatarstan are going to be licensed for the geological study and petroleum exploration. All the areas will require areal seismic surveying, geochemical studies and up-to-date exploration techniques tested in Tatarstan, such as NueroSeism, biogeochemical testing, lateral seismic sounding and some others. A hydrocarbon potential of Tatarstan is still high. However, the remaining reserves are limited to great depth, the ﬁelds that are difﬁcult to access or are to hardly to recover deposits.