Abstract: During the 13^th Five-Year Plan period, Sinopec has been continuously stepping up its scientific and technological efforts in view of the key technical problems in the efficient exploration and development of deep and ultra-deep oil and gas, tight low permeability oil and gas, and unconventional oil and gas. A number of technical bottlenecks restricting oil and gas exploration and development have been broken through; a batch of high-end technical equipment, downhole tools, instruments and fluids have been developed; a series of technologies have been formed including optimal fast drilling and completion, measurement and control under high temperature condition with high precision, fine logging and efficient reservoir stimulation. All promoted the efficient exploration and beneficial development of Shunbei ultra-deep oil and gas field and Fuling shale gas field, providing a strong technical support for increasing storage and stabilizing production in old oil fields and tight low permeability oil and gas fields. However, gaps still remain between the petroleum engineering technologies of Sinopec and foreign advanced technologies in the aspects of operation efficiency, technical index and comprehensive cost, etc. Thus, to provide Sinopec technical supports for stabilizing oil production, improving gas production and reducing cost, we must vigorously implement the innovation-driven strategy; largely enhance the ability of independent innovation; make breakthroughs in drilling and completion, logging and reservoir stimulation and other professional key core technologies; and improve the level of petroleum engineering technology and equipment as soon as possible during the 14^th Five-Year Plan period.