Abstract: Huanghua Depression in Bohai Bay Basin has favorable conditions for the formation of laminated shale oil. The three sets of lacustrine laminated shales in the second member of Kongdian Formation (Kong 2 member), third member of Shahejie Formation (Sha 3 member) and the first member of Shahejie Formation (Sha 1 member) have a superimposed area of about 2400km², the maximum cumulative thickness of about 1200m,and the calculated shale oil resource volume of 1.2 times that of conventional oil resources, showing great exploration and development potential.However, the benefit development still faces a series of difficulties. By conducting 52 items of joint experiments and tests on 22640 shale samples (701m core) collected from five wells, and analyzing mud logging and wireline logging data in 116 vertical wells, the distribution of the laminated shale oil is identified, which is enriched in (fan) predelta to semi-deep lake subfacies laterally and in the transition zone of the base level T/R cycle vertically in the form of retained oil generated by source rocks in the medium thermal evolution stage. In addition, the quantitative evaluation standard for three types of shale oil favorable areas and enrichment layers is established by eight factors, which effectively guides the “sweet spots” evaluation and selection of the laminated shale oil. Moreover, the field tests of different development schemes, different types of fracturing methods, and different production regimes are conducted in 37 shale oil horizontal wells, which indicate that the optimal horizontal well placement mode can be achieved by using horizontal well spacing of 300m and horizontal section length of 2000m, single-point densely-cutting network volume fracturing enables to greatly improve the production and EUR of single well, as well as the optimally formed “four steps” shale oil well production method, namely,pressure control and water production by small choke, liquid lift/production and blockage prevention by large choke, steady natural flow by medium choke, and long-term production by deeply-set small pump, supports to achieve the high and steady shale oil production. Guided by understanding of enrichment law and key technologies for production and efficiency enhancement of the laminated shale oil, major breakthrough has been made with the highest cumulative oil production of 1×10⁴ ton in the first year and EUR of over 3.5×10⁴ ton of a single well, achieving the benefit development at an oil price of USD 50 $/barrel, which shows promising development prospect of shale oil in fault basins in eastern China.