Abstract: A series of major breakthroughs have been achieved in global deepwater oil and gas exploration since 2010, which has been the most important replaced field of conventional oil and gas discovery. The breakthroughs in new basin groups and the rediscoveries in the early discovered basin groups point out two significant exploration directions. There have been new significant discoveries of oil and gas in four deepwater basins since 2010, including Guyana Basin on the eastern continental margin of Central America, Rovuma Basin and Tanzania Basin in the deepwater area of East African continental margin, the eastern Mediterranean of the Tethys Basin Group and the deepwater area of the continental margin of eastern Canada. From 2011 to 2016, it has been confirmed that nine basin groups in global deepwaters have achieved new great oil and gas exploration discoveries, including the mid-northern deepwaters of West African continental margin, the Great Campos Basin in Brazil, the deepwater area of Gulf of Mexico Basin, the deepwaters of western continental margin of Norway and North West Shelf of Australia, the deepwaters of the South China Sea, Southeast Asia and the Bay of Bengal, and circumpolar deepwater basin group. These discoveries prove that the hydrocarbon-rich basin has the paleo-environment for the formation of high-quality source rocks with high organic matter abundance and favorable reservoirs with good properties and high productivity. The successful breakthrough in new basin is to bravely explore new areas and restricted areas. The experience gained from constant discoveries in mature basins is to break through new horizons, especially the pre-salt reservoirs. It can be seen that global deepwater hydrocarbon is always the main field of future world conventional oil and gas exploration.