The Kola-Kanin Monocline has been recently recognized as a potentially prospective region for hydrocarbon discoveries. There may be good generating potential within Riphean grabens. Sedimentary sequences of the Riphean subplatform and Vendian terrigenous deposits could contain hydrocarbons. The top of the Riphean section is now a monoclinal surface dipping NE towards the South Barents Basin. The surface of the monocline is complicated by highs and ridges, which trend NW along the coast of the Kola Peninsula. Here, prospective plays may be present in the form of anticlinal and fault-controlled traps in Riphean to Carboniferous rocks, as well as in pinch-outs of Devonian and Carboniferous clastic rocks. In the central and northern parts of the monocline, prospects can be expected at accessible depths, mainly in Carboniferous to Permian carbonate build-ups, but also in Upper Devonian and Silurian build-ups: the Permian carbonates are the main exploratory targets. In the basinward part of the monocline, stratigraphic and lithologic traps may occur in Upper Permian clinoform sandstones and in Triassic sandbars.