Source rock strata are filled and aggregated with large-scale continuous hydrocarbon resources, including significant volumes of in-place retained, short-distance migrated and potentially generated hydrocarbons. Source rock strata simultaneously possess the properties of reservoirs and hydrocarbon source rocks, known as source-reservoir coexisting systems. Reservoir properties refer to the physical properties concerning the storage and transmission of oil and gas, while hydrocarbon source rock properties refer to the physicochemical properties related to governing the generation, retention and expulsion of oil and gas in the source rock strata. These properties fundamentally determine the technical path for the successful exploitation of petroleum and natural gas in the source rock strata. With regard to reservoir properties, in-depth research and development of the advanced energy-storing fracturing technology can aid the construction of complex fracture networks to overcome the limitations in the connectivity properties of source rock strata. Focusing on the hydrocarbon source rock properties, an underground in-situ conversion technology should be created and developed to alleviate the shortcomings of organic matter quantity and maturity properties of the source rock strata. Furthermore, selecting the appropriate exploitation path based on the property characteristics can promote the achievement of commercial and sustainable development of oil and gas in the source rock strata.

More than 30 years of continuous development has made onshore deep and ultra-deep conventional and unconventional oil and gas become an integral part of increasing the energy reserves and output by China’s petroleum industry. Based on the deep oil and gas geological conditions in the country, the present study finds that paleo stratum and deep burial are the two basic geological characteristics of deep oil and gas. Furthermore, we put forward the notion that it is necessary to strengthen the fundamental research of theories in four aspects and the core technology in five aspects of deep oil and gas. It is suggested that it is of special importance to promote the scientific and technological research of deep oil and gas through the scientific exploration of "myriameter deep" wells as the starting point, so as to boost the development of deep oil and gas field in China.