The correct option is A In the ocean
The part of a sentence excluding the subject is the predicate. The verb
in the predicate is often modified by an adverb or its equivalent, known
as the adverbial qualification in that predicate. In the given sentence, the adverb phrase "In the ocean" modifies the verb "are", it contains the adverb of place. Hence it is the adverbial qualification and option A is correct. "There" is normally used as an adverb. However, when it is placed as a subject it functions as an introductory subject (like in this sentence). Hence option B is incorrect. "Are" is the verb itself, hence option C is incorrect. "Thousands of undiscovered species" is a noun phrase that performs as the main subject, hence option D is incorrect.