Abstract: Under the new circumstances, the global energy landscape is undergoing profound restructuring driven by three forces—geopolitics, energy transition and technological change. Oil and gas exploration and development are gradually focusing on deep and ultra-deep formations, deepwater, unconventional resources and enhanced recovery in mature oilfields. Global upstream oil and gas investment continues to shrink, and competition in the oilfield service (OFS) industry is shifting from traditional scale-based competition to systematic competition centered on technology, integrated engineering and low-carbon services. Domestically, against the multiple backgrounds of the energy security strategy, the policy of increasing reserves and production, the cultivation of new quality productive forces and the "dual carbon" goals, China's OFS enterprises face multiple pressures, including constrained access to high-end core technologies, rising costs and lagging low-carbon transition. Based on the latest oil and gas industry data and practical cases from 2025 to 2026, this paper systematically analyzes the external environment, capability advantages and bottleneck constraints of China's OFS enterprises under the new circumstances. It is suggested that OFS enterprises should progressively leap from "scale expansion" to "quality and efficiency," take scientific and technological self-reliance as the mainline, pursue digital-intelligent and green low-carbon transformation as twin drivers, and coordinate the value chain, innovation chain and industrial chain. A "six-in-one" development strategy system should be built, covering scientific and technological innovation, digital-intelligent transformation, green low-carbon development, integrated operation, international layout and institutional reform, with detailed implementation paths and safeguard strategies. This strategic framework can provide a strategic reference for the high-quality transformation of domestic OFS enterprises.