On one hand, the population of China accounts for one-fifth that of the world, whereas the proved oil reserve for an average person in China makes up less than one nineth that in the world. And the average natural gas reserve per person of China is only one twentieth that of the world. On the other hand, the yearly oil output of China has risen from 120,000 tons to 139,000,000 tons, which has made China one of the largest oil countries in the world, presenting a striking contrast with the former. This is a problem which is worth noticing. More and more oil and gas are needed for the continued economic development of China, but the oil industry of exploration and development is faced with such contradictions and difficulties as lack of reserve volume, imbalance of the ratio of reserves and production, shortage of funds, surplus of staffs, low labour productivity, and so on. For this reason it is necessary to analyse the economic benefit and strategy of China's oil and gas exploration and development. With a series of data and charts this paper analyses the economic benefit of the exploration and development of China's oil and gas and proceed to study the strategy of "Stabilising the Eastern Part and Developing the Western Part of Oil Zones " and "Starting the Second Oil Undertaking and Opening the Second Battlefield for Oil Production". And in this paper the author comes up with his own points of view.

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