Abstract: In order to know about the technology and experience of global deepwater oil and gas exploration and development, and then get some helpful information and inspiration, we investigated and studied the current situations, and trend of global deepwater oil and gas exploration and development widely. Deepwater oil and gas resource is very prolific. Deepwater oil and gas exploration has already become one of the most popular exploration domains at present. The production and the percentage of deepwater oil and gas are increasing unceasingly, the production of deepwater oil and gas in the world increased from less than 0.2 billion barrels in 1996 to 1.4 billion barrels in 2005, and the production of deepwater oil and gas in 2004 is respectively 10% and 7% of the total offshore oil and gas production of the world. To 2015, the percentage will increase to 25% and 12% respectively. At the same time, with the development of deepwater exploration, many kinds of problems must be faced, such as the size of reservoir is smaller and smaller, the fluid of the reservoir is more and more complicated, the operation environment is more and more hostile, and so on. To deal with these problems, many advanced technologies, such as high resolution 3D seismic, 4C/4D seismic, extended reach horizontal well, branch well, intellectual completion, different kinds of deepwater platforms and more and more autonomous subsea production system are applied widely. The situ-ation of global deepwater oil and gas exploration and development indicates that, although faced many prob-lems and challenges, the good profit and the rapid progress of technologies make it propel quickly in many deepwater areas, especially in West Africa, Brazil and the Gulf of Mexico, and gets many significant finds continually. In the deepwater shelf area of the northern South China Sea, it has the same tectonic setting of passive continental margin with them, so it should has good oil and gas prospect, and the important discovery made by Liwan 3-1-1 well recently also pr