Abstract: Oil and gas are significant strategic resources for sustainable development of both the economy and society in China. The difficulties and challenges facing the oil and gas industry place higher demands on the existing methods and technology. As a rapidly developing tool for prospecting and evaluation, terahertz technology has progressed from initial detection of petrochemical products to upstream and midstream sectors of the oil and gas field, including oil prospecting and evaluation, exploitation and detection, and so on. The oil and gas industries have expressed great interest in the promising applications, and wider commercialization of terahertz technology is to be expected.