Anabar-Lena Composite Tectono-Sedimentary Element (AL CTSE) is located in the northern East Siberia extending for c. 700 km along the Laptev Sea coast between the Khatanga Bay and Lena River delta. AL CTSE consists of rocks from Mesoproterozoic to Late Cretaceous in age with total thickness reaching 14 km. It evolved through the following tectonic settings: (1) Meso-Early Neoproterozoic intracratonic basin, (2) Ediacaran - Early Devonian passive margin, (3) Middle Devonian - Early Carboniferous rift, (4) late Early Carboniferous - latest Jurassic passive margin, (5) Permian foreland basin, (6) Triassic to Jurassic continental platform basin and (7) latest Jurassic - earliest Late Cretaceous foreland basin. Proterozoic and lower-middle Paleozoic successions are composed mainly by carbonate rocks while siliciclastic rocks dominate upper Paleozoic and Mesozoic sections. Several petroleum systems are assumed in the AL CTSE. Permian source rocks and Triassic sandstone reservoirs are the most important play elements. Presence of several mature source rock units and abundant oil- and gas-shows (both in wells and in outcrops), including a giant Olenek Bitumen Field, suggest that further exploration in this area may result in economic discoveries.