Oil and gas seepage theory is the basis of oil and gas field development, and development technology is the key to efficient development of oil and gas field. With the continuous discovery of complex oil and gas reservoirs such as unconventional and fracture-vuggy reservoirs, it brings new challenges to the theory and development technology of oil and gas seepage. In this paper, the research status and key theoretical methods of percolation theory of oil and gas reservoirs were summarized. The development directions of extreme and intelligent hydrocarbon percolation mechanics, such as the nonlinear coupling of heat-fluid-solid strength and the change of multi-scale hydrocarbon phase state, were proposed. The present status of hydrocarbon reservoir development technology system and key technologies of hydrocarbon reservoir development in our country were reviewed. The development directions of unconventional oil and gas were put forward, such as the in-situ modification “well factory”, the integration of CO₂ storage, extraction and production, and intelligent development of oil and gas fields.