Abstract: Based on the cluster analysis and cross plot technique, the low-porosity and low-permeability sandstone reservoir of Baikouquan Formation in Mahu Depression of Junggar Basin is divided into four categories. Meanwhile, comprehensive well log, logging and oil testing data are used to develop the multidisciplinary identification method for multi-factor fluid in the complicated reservoir. The reservoir quality classification plot is established on the basis of the physical properties acquired by NMR logging while the calculation model of gas-logging oil-bearing factor and wireline logging oil-bearing factor is created. In addition, with the fluid identification method for Mahu Depression developed, the coincidence rate of mud logging and wireliine logging is improved by 30.6 percent and 28.1 percent. Through the analysis of reservoir renovation results, the distinguishing criteria are established on the basis of the Young^’s modulus from logging, dividing the reservoir in this area into ^“easy to fracture^” and ^“difficult to fracture.^” Based on analysis of the relevant parameters, such as dynamic fractural length and sanding factor, the fracturing prediction model for maximum results of reservoir renovation is established, which improves the fracturing results of Mahu Depression by 32.7 percent.