China oil and gas exploration and development history is the history of innovation. This period of history has made brilliant achievements. In this paper, we innovated eight oil and gas geological theory and eight technology, more than 500 oil and gas fields have been find. In 2010 an annual output of oil is 2.1×108 t, natural gas is 950×108 m³。From recent research and practice to think, Chinese oil and gas resources are very rich, have great potential for exploration. At last we put forward the oil gas resources development strategy.