Abstract: In recent years, Sinopec has developed a number of key and core technologies and equipment to tackle the problems of hard formations, high temperature, and low production capacities in the exploration and development of deep, ultra-deep, unconventional, low-permeability oil and gas. These technologies include safe and efficient drilling technologies for 9000 m ultra-deep wells, engineering technologies for shale oil, and engineering technologies for medium and deep shale gas. These technologies and equipment were used to efficiently drill five ultra-deep wells with a depth of more than 9000 m, more than 10 shale oil wells, and two shale gas wells with a displacement of more than 4000 m. They provided strong support for the smooth implementation of deep-earth projects and guaranteed the exploration and development of all kinds of oil and gas resources. However, technical challenges, such as more complex geological conditions, will be confronted by petroleum engineering as exploration and development develop further. It is suggested that Sinopec should step up the pace of forming its innovation capacity in technical aspects such as safe drilling, logging under high temperature and high pressure, and refracturing. In addition, it should pay attention to the application of new materials, as well as green and low-carbon technologies and develop a more mature and professional system for petroleum engineering technologies. In this way, it can provide technical support for the new goal of increasing oil and gas reserves and production.