Abstract: Based on the geological characteristics and permeability, the authors classify the low permeability reservoirs in Changqing Oilfield into four types i.e. low permeability, very low permeability, ultra-low permeability and dense reservoirs. The development characteristics and law, including changes of reservoir pressure, water flooding response, production decline patterns and water cut increasing law, are also systemically studied. This paper points out the main contradiction existing in the development process of different types of reservoirs, and provides technical support to make the development countermeasures for stabilizing production in different types of reservoirs.