With the increase in the number of oil and gas wells and well depth, coiled tubing drilling technology has developed rapidly, especially the breakthrough progress in oil and gas transportation has improved the safety and reliability of operations. Coiled tubing mainly uses nonthreaded connections to complete tasks such as workover, logging, drilling, and completion. It has high efficiency, low cost, diversity, and a broad application market. This paper deeply analyzes the operational advantages and application difficulties of coiled tubing by studying the current application and application characteristics of coiled tubing drilling technology at home and abroad.