Abstract: There are plenty of geothermal resources in oil & gas sedimentary basins. In the context of short energy supply and vigorous development of new energy, development of geothermal resources in oil & gas fi elds is being paid more and more attention. Based on the analysis of geothermal resources in oil & gas fi elds, the possible mode of co-production of oil/gas and geothermal resources was discussed in this paper. Considering the existing low-and medium-temperature power generation technology, the feasibility of using low-and mediumtemperature geothermal resources in oil & gas fi elds to power was analyzed. With the characteristics of geopressured geothermal resources, the potential of using geopressured geothermal water fl ooding in heavy oil reservoir to enhance oil recovery was also investigated. It was concluded that sustainable development of oil & gas fi elds and effi cient utilization of new energy could be realized through the “win-win” cooperation between oil/gas production and geothermal exploitation based on existing infrastructure, technology, geothermal experience and reservoir information in oil & gas fi elds.