Henan Oilfield is a collective term for Henan Petroleum Exploration Bureau Co., Ltd. and Henan Oilfield Branch. The base is located at the junction of three counties (districts) in Nanyang City, Henan Province, with mining areas involving Nanyang, Zhumadian, and Zhoukou in Henan, Tongchuan in Shaanxi, and Bazhou and Karamay in Xinjiang. The branch primarily engages in oil and gas exploration and development, oil and gas technical services, refined wax chemicals, and oil and gas sales. The Exploration Bureau Co., Ltd. focuses on production support, production services, and asset management.

    Henan Oilfield developed and constructed using the "Great Campaign" model and has continued to grow alongside the expansion of China's petroleum and petrochemical industry. In April 1970, the Wuxi Oilfield Campaign Command (Jianghan) held the "Sanxi" meeting, deciding to commence petroleum exploration in the Nanxiang Basin, marking the beginning of petroleum exploration in Henan. In August 1971, Well Nan 5 in the Dongzhuang structure of Nanyang Depression yielded industrial oil flow, announcing the birth of Henan's petroleum industry and making Henan the 16th oil-producing province in China. On May 1, 1972, the Nanyang Petroleum Exploration Command was established. In September 1975, Well Pucan 1 produced oil, leading to the discovery of Zhongyuan Oilfield. In May 1976, Well Bi 4 achieved high oil flow, discovering the Shuanghe Oilfield with reserves exceeding 100 million tons. In May 1977, the oilfield entered the development campaign phase. In 1978, the oilfield produced 1.67 million tons of crude oil, contributing significantly to the national crude oil production, which exceeded 100 million tons that year, engraving the name of Henan Oilfield on the China Century Altar. In 1988, oilfield production reached its historical peak of 2.57 million tons. In 2000, the oilfield was reorganized into listed and non-listed parts (the listed part being the oilfield branch, and the non-listed part being Henan Petroleum Exploration Bureau). In 2012, Henan Petroleum Exploration Bureau completed the specialized reorganization of petroleum engineering. In November 2017, the bureau completed the corporatization reform, becoming Henan Petroleum Exploration Bureau Co., Ltd.

    Over 50 years of exploration and development, the oilfield has cumulatively produced nearly 90 million tons of crude oil, generating a total industrial output value of over 220 billion yuan and paying taxes and fees of over 43 billion yuan, making significant contributions to the petroleum industry and economic and social development. It has successively won titles such as "National Geological Exploration Meritorious Unit" and "May 1st Labor Medal," as well as honors like "Outstanding Contribution State-Owned Enterprise in 30 Years of Reform and Opening Up" in Henan Province.