Under the requirement of high-quality development, the research method of integrated model planning for offshore oil and gas exploration and development suitable for the western South China Sea is put forward. Based on the new round of resource evaluation and exploration and development research in the western South China Sea, the in-depth research on underground oil and gas resources, surface development facilities, external factors and economic indexes are carried out to clarify the industrial layout of oil and gas development. The potential and prospect of oil and gas exploration and development were implemented, and the main external factors and corresponding measures affecting the planning were clarified in this paper. The economic evaluation model suitable for the region is established based on the analysis of internal rate of return, comprehensive barrel oil cost, critical price, financial net present value and other important indicators, and a set of planning and research methods suitable for the integration of exploration and development in the western South China Sea is finally formed. This method has been applied to the replacement reserve study of Weizhou X and Weizhou Y oil fields. It is found that the planned reserves and production are consistent with the actual ones, and good practical results have been achieved.

Faced with the continued downturn of international oil price and increasing complexity of oil-gas geological conditions since 2013, CNOOC China Ltd., Zhanjiang has promoted management innovation of full life circle with the theme of "value to exploration-oriented", establishing QC system of multiple-dimension exploration to make exploration target management standardized and institutionalized, putting forward new ideas, closed-loop management of "big data" in full life circle to make exploration target and decision flow informationized, generating comprehensive reserve method of exploration target optimization and quantifiable management mode of "probabilistic method" evaluated by experts, and establishing "optimal solution" to management decision model to manage optimal target combination to drill and bring about lean management of exploration deployment. All the management innovations and practices have been carried out in oilfields of western South China Sea successfully, with corporation's exploration decision and deployment guided effectively, a great success of petroleum exploration, and remarkable economic as well as society benefits.