Abstract: The necessity to work out development strategies is presented in respect of the need to adapt to the changing external environment and the need of survive and develop-ment of Henan oilfield.Henan oilfield should establish5new ideas and5new mechanisms during the later3years of the″Tenth Five Year Plan″.The overall development strategy is maximization of profits and the5specific strate-gies are development of hydrocarbon resources,opening-up of market,development of human resources,management innovation and development of enterprise culture.