Abstract: During the "Ninth Five Year Plan", Henan Petroleum Exploration Bureau has discovered several oilfields and oil-bearing areas in Yanqi basin and Biyang-Nangyang depression, the reserve replacement goal was achieved, and new geologic knowledge is obtained in oil and gas exploration in the new areas. A new round of resources evaluation and exploration potential analysis show that the residual resource potentials in each exploration area are large and exploration spaces are broad. However, exploration in each area is very difficult due to the complex geological conditions. The oil and gas resource development strategy of Henan oilfield in the " Tenth Five Year Plan" is to deepen exploration in the old areas to add reserves and stabilize production; strengthen exploration in the new areas in Yanqi basin to enlarge exploration achievements, carry out fine geologic research to make a breakthrough in exploration in the new areas, open a new exploration field in Tarim basin; go abroad to compete in the international exploration and development markets.