QianMiqiao Buried-hill condensate gas reservoir is the first fractured buried-hill condensate gas reservoir with large-scale found in Dagang oilfield. Through the application of the results of exploration and reserve calculation, production characteristics of exiting wells are analyzed according to the formation and production testing data. Then the fracture system distribution and structure pattern of buried hill are determined, which are characterized by ＂well-developed fracture with south high and north low＂ and east and west ＂ mountain ridge ＂ in shape of Chinese Character ＂ 厂＂. It is confirmed that the buried hill reservoir belongs to micro-fracture pore style, which matches the dynamic production characteristics much better compared with ＂vuggy pore style＂ ever being thought to be. The well development of high-degree fracture and unbalanced development of reservoir properties makes it difficult to develop the reservoir. In order to make good use and develop the resources of Qian- Miqiao Buried-hill condensate gas reservoir effectively, and increase the producing reserves as well, reliable geologic model is built, reservoir engineer research is carried out, and favorable development areas has been found by applying the exiting data and combining the exploration research results, which explores a successful path for the effective development of buried-hill condensate reservoir.