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The new high efficient electric method to search and prospect of oil and gas deposits on the sea shelf is<br>proposed. This method allows to reveal hydrocarbon deposits located on depths up to several kilometers and<br>determine their boundaries. The technique is based on separate determination of conductivity, induced<br>polarization (IP) parameter and the new parameter–the time decay constant of IP-potential for every medium<br>elements. A mapping of geological structure with help of these three parameters is a novelty of this method.