This article considers the most important aspects of the development of the oil and gas complex of Russia. The exhausted paradigm of development of the country’s raw material base should be changed to prevent a drop in oil production in Russia. The sedimentary basins in the shelves of the Russian part of the Arctic Ocean, poorly studied provinces on land, and unique unconventional oil deposits (Bazhenov, Domanik, Khadum, Kuonam, and other formations) should be primarily used to search for oil deposits in the twenty-first century. In addition, the focus should be on the small and smallest reserves of mature oil-and-gas provinces that should be developed by attracting small and medium-sized enterprises that can provide up to 20% of oil production in the country in the near future. Priority technological tasks to switch the Russian oil and gas complex from extensive to intensive development are formulated.