Benchmarking is a powerful measure to improve the fine management level of enterprises. To fulfill the mission of ensuring national energy security and promote the domestic upstream oil and gas companies to the world-class level，SINOPEC established a systematic and applicable benchmarking system for oil and gas exploration. The effort aims to discover some common problems and weak links that constrain oil and gas exploration，exploit resource potential，enhance core competitiveness，and achieve high-quality development. Focusing on the benchmarking process of oil and gas exploration，SINOPEC established a benchmarking method of oil and gas exploration with three classes，i. e.，the enterprise class，exploration field（play）class，and investment project class. Considering the characteristics of different classes，an index system for exploration benchmarking was constructed in terms of exploration and operation management as well as theory and technology. In particular，the relative quantity benchmarking index under the unit area of mineral rights or unit residual resources was built to eliminate the influence of differences in mineral rights.Accordingly，SINOPEC carried out 24 exploration benchmarking projects. On the basis of SINOPEC-CNPC cooperation，it mainly investigated the Ordovician exploration benchmarking between Shunbei Oilfield and Fuman Oilfield and the Shaximiao Formation exploration benchmarking between Zhongjiang Gas Field and Jinqiu Gas Field. Upon the summary of previous experience，a complete management support system of exploration benchmarking was built from the aspects of organization，system，and operation.In addition，some suggestions on exploration benchmarking were put forward，including improved construction of the benchmarking index system and benchmarking management system and greater cooperation among oil and gas companies.