The Molasse Basin represents the northern foreland basin of the Alps. After decades of exploration, it is considered to be mature in terms of hydrocarbon exploration. However, geological evolution and hydrocarbon potential of its imbricated southernmost part (Molasse fold and thrust belt) are still poorly understood. In this study, structural and petroleum systems models are integrated to explore the hydrocarbon potential of the Perwang imbricates in the western part of the Austrian Molasse Basin. The structural model shows that total tectonic shortening in the modeled north south section is at least 32.3 km (20.1 mi) and provides a realistic input for the petroleum systems model. Formation temperatures show present-day heat flows decreasing toward the south from 60 to 41 mW/m2. Maturity data indicate very low paleoheat flows decreasing southward from 43 to 28 mW/m2. The higher present-day heat flow probably indicates an increase in heat flow during the Pliocene and Pleistocene. Apart from oil generated below the imbricated zone and captured in autochthonous Molasse rocks in the foreland area, oil stains in the Perwang imbricates and oil-source rock correlations argue for a second migration system based on hydrocarbon generation inside the imbricates. This assumption is supported by the models presented in this study. However, the model-derived low transformation ratios (<20%) indicate a charge risk. In addition, the success for future exploration strongly depends on the existence of migration conduits along the thrust planes during charge and on potential traps retaining their integrity during recent basin uplift.