In order to enhance the development efficiency of thick and complex carbonate reservoirs in the Middle East, a case study was conducted on M oilfield in Iraq. This study focused on reservoir characterization, injection-production modes, well pattern optimization, and other related topics. As a result, key techniques for the high-efficiency development of thick carbonate reservoirs were established. The research findings include the following: (1) the discovery of hidden “low-velocity” features within the thick gypsum-salt layer, which led to the development of a new seismic velocity model; (2) the differential dissolution of grain-supported limestones is controlled by lithofacies and petrophysical properties, resulting in the occurrence of “porphyritic” phenomena in core sections. The genetic mechanism responsible for reversing petrophysical properties in dolostones is attributed to “big hole filling and small hole preservation” caused by dense brine refluxing; (3) fracture evaluation technology based on anisotropy and dipole shear wave long-distance imaging was developed to address challenges associated with quantitatively assessing micro-fractures; (4) through large-scale three-dimensional physical models and numerical simulations, it was revealed that water–oil displacement mechanisms involving “horizontal breakthrough via hyper-permeability” combined with vertical differentiation due to gravity occur in thick and heterogeneous reservoirs under spatial injection-production modes; (5) a relationship model linking economic profit with well pattern density was established for technical service contracts in the Middle East. Additionally, an innovative stepwise conversion composite well patterns approach was introduced for thick reservoirs to meet production ramp-up requirements while delaying water cut rise; (6) a prediction technology for the oilfield development index, considering asphaltene precipitation, has been successfully developed. These research findings provide robust support for the efficient development of the M oilfield in Iraq, while also serving as a valuable reference for similar reservoirs’ development in the Middle East.