The non-producing reserves in Chaoyanggou and Changchunling blocks in outlying of Daqing Oilfield belong to low permeability Fuyu reservoir, and when apply the conventional vertical wells development technology in these areas, we get low single well productivity and poor development benefit. To further improve its development effect and explore economic exploitation methods in low permeability reservoirs, the horizontal near-balance drilling and open hole completion techniques are adopted to reduce the reservoir pollutions caused by drilling and well cementing. What's more, we also combine drilling tures with the oil expansion packer process to carry out fracturing transform. The results of oil production test and commissioning show that near-balance drilling and open hole completion technology can protect reservoirs effectively in low permeability reservoirs. Besides, using open-hole horizontal reservoir fracturing improvement can increase daily oil production of single well, which has important significance to further improve development effect of low permeability reservoirs.