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A regional investigation of the eastern part of the Ukrainian Black Sea has been carried using a vast set of regional seismic reflection profiles, including the new set of regional seismic profiles by Naftogaz of Ukraine. The drilling of Subbotina well 403 in 2006 has confirmed the huge oil and gas potential of the Kerch shelf. The recoverable reserves of the field are expected of more than 100 ml. tons of oil and 100 bln. m3 of gas. 20 large structures with closures of 50-200 km2 within the Kerch shelf have been mapped within Oligocene-Miocene-Pliocene sediments. The structure and growth history of the prospects and Subbotina structure are the same. Some of the prospects have much more size than Subbotina structure. A number of high-amplitude anticlines has been mapped and a huge Mesozoic structure of 400 sq. km in deep water depth up to 2200 m. There are strong direct hydrocarbon indicators on seismic data. According to expert appraisal, every major lead formed within the Upper Mesozoic-Cenozoic section in water depths of 100 m to 2000 m has an area of several hundred sq. km, with vertical closure of hundreds of meters, and has the potential to contain hundred million barrels of recoverable hydrocarbons.