Abstract: The supervision of oil and gas resource exploration and development is an important means of urging mining rights holders to fulfill their legal obligations and promoting the increase in oil and gas resource reserves and production, which is of great significance for safeguarding national energy security. In order to implement the reform requirements of mineral resources management and establish a supervision system and mechanism for oil and gas resource exploration and development activities under the new circumstances, this paper systematically reviews the evolution of China’s oil and gas resource management system, the main contents and effects of supervision, analyzes the experience and practices of advanced foreign countries in oil and gas resource supervision, and summarizes the main problems existing in the current supervision of oil and gas resource exploration and development in China, including lacking specificity of the legal system, unsmooth management mechanism, weak supervision strength, and backward supervision methods and technologies, which restricts the sustainable and healthy development of oil and gas resource industry. In light of the new circumstances faced in the supervision of oil and gas resource exploration and development, specific measures are proposed to deepen the reform of supervision system of oil and gas resource, including promoting the construction of a comprehensive legal system for oil and gas resource management, deepening the reform of the supervision agency for oil and gas resource exploration and development, optimizing the supervision approach to oil and gas resource exploration and development, accelerating the construction of supervision information system of oil and gas resource exploration and development in the reform.