The primary objective of this study is to assess the oil and gas potential of the West Siberian Basin of Russia. The study does not analyze the costs or technology necessary to achieve the estimates of the ultimate recoverable oil and gas. This study uses reservoir data to estimate recoverable oil and gas quantities which were aggregated to the field level. Field totals were summed to a basin total for discovered fields. An estimate of undiscovered oil and gas, from work of the US Geological Survey (USGS), was added to give a total basin resource volume. Recent production decline points out Russia`s need to continue development of its discovered recoverable oil and gas. Continued exploration is required to discover additional oil and gas that remains undiscovered in the basin.