UkrSGRI was formed on July 5, 1957. From that time until 2000, the Institute has been the leading Ukrainian scientific institution of oil and gas areas. It conducted research in the field of petroleum Geology and Geophysics such as study of the geological structure of oil and gas regions, the study of the formation of oil and gas deposits, scientific substantiation of directions of exploration for gas and oil, development and improvement of evaluative methods of resources and hydrocarbon reserves, development and implementation of new methods and apparatus for seismic studies, improvement of technologies of well testing, geological and economic study of oil and gas fields, etc.
In order to improve the efficiency of exploration, improve and develop the mineral resource base of Ukraine, for the maximum concentration of the scientific potential of the industry to focus research on the most promising and priority areas of research, at the end of 1999, by the order of the Committee of Ukraine on Geology and subsoil use of 31.12.1999, a number of geological scientific institutions were attached to UkrSGRI. As a result, UkrSGRI was transformed into a unique research complex, which provides scientific and methodological support and support of geological exploration for all minerals without exception. Since then, in addition to the traditional areas of scientific activity for the Institute (oil and gas Geology and Geophysics), UkrSGRI has been carrying out works on scientific support of exploration for ore and non-metallic minerals, coal, groundwater, researches on the development of technologies for mineral enrichment; geological, economic and ecological-geological studies, etc.