Abstract: Based on strategic and prospective exploration frontiers and targets, CNPC has established special investments and implemented venture exploration since 2005. After five years of discovery and practice, CNPC has made remarkable discoveries and breakthroughs in venture exploration for oil and gas in new areas and new frontiers, expanding the frontier of oil and gas exploration, deepening geologic understandings, and promoting technological progress. Meanwhile, CNPC has developed a series of effective and scientific organization and management systems and a number of effective methods in practice. CNPC's venture exploration in the past five years has played an important role in advancing its sustainable and effective development in domestic oil and gas exploration and maximizing oil and gas reserves.

Key words: CNPC, venture exploration, great results, basic practice