Abstract: Rapid development of economy is inevitably accompanied by a large amount of energy consumption. With the rapid development of China’s economy, its dependence on foreign oil has exceeded 70%, so it is very important to ensure overseas oil supply. The production and operation process of overseas oil projects faces complex external environments, and various risks are prominent. This paper takes the risk management of overseas oil projects as the starting point, analyzes the risk characteristics of overseas oil projects, identifies the corresponding risk factors, and builds a risk management framework system covering risk characteristics analysis, risk factor identification, risk level evaluation and risk control, so as to improve the risk management of overseas oil projects. To support the healthy and stable operation of overseas oil projects.