The aim of this chapter is to describe the key elements of the petroleum systems responsible for the accumulation of hydrocarbons as well as the most significant discoveries in the Ukrainian Carpathian Foredeep. The petroleum potential of the foredeep is contained in the Jurassic to Miocene sedimentary rocks. A total of 40 gas fields, 4 gas-condensate fields, and 2 oil fields have been discovered in the foredeep to date. Several of the most typical fields have been described in this chapter. These fields produce from the Upper Jurassic to middle Miocene reservoir rocks, sealed by the rocks occurring throughout the Mesozoic–Cenozoic sedimentary column. The traps can be summarized as follows: stratigraphic trapping beneath unconformity; stratigraphic trapping above unconformity; thrust-related trapping; and normal-fault-related trapping. Recently, the basin is at a mature stage of exploration, but new exploration opportunities continue to exist.