Abstract: In recent years, the Central Committee of the Communist Party and the State Council of China have successively issued a series of documents, including the reform of the oil and gas system, the reform of the equity fund system, and the reform of the mining rights transfer system, according to which the Ministry of Natural Resources has continuously promoted the reform of oil and gas mining rights management. The significant achievements after implementing reform measures in the new era are summarized, such as opening up the oil and gas exploration and production market, implementing mining rights competitive transfer, and deepening the reform of “optimizing the business environment”, as well as the challenges faced by the current reform work in the transfer, approval, and supervision of mining rights. Furthermore, some opinions and suggestions are provided, including expanding the source of oil and gas blocks, deepening the management mode, establishing a management system in accordance with geological understanding, and promoting comprehensive supervision, so as to further improve the mining right competitive transfer, build scientific mining rights relinquishment system, deepen the reform of “optimizing the business environment” and approval system, enhance the supervision of oil and gas mining rights, accelerate the formation of the new oil and gas exploration and production system dominated by state-owned business and supplemented by other economy sectors, and ensure national energy security.