Abstract: Deepwater oil and gas exploration successfully continues in Brazil. It has made the country the major growth point of conventional oil and gas in the world. In the past 10 years, Brazil has found more than 100 oil and gas fields and 500 million tons of crude oil from Brazil's deep-water basins accounting for the 30% of global growth of conventional oil and gas reserves. The petroleum geology study of the Campos and Santos Basins show that the two basins are affected by the salt tectonic movement in the rift period. There are two kinds of petroleum accumulation patterns in the pre-salt and post-salt sequences respectively. The Campos Basin has three sets of hydrocarbon source rocks, four sets of reservoirs, salt window, salt welding and basement faults that constitute the effective channels for vertical migration of oil and gas and in the east part of the basin where evaporite discontinues or thins out, turbidite sand bodies become the focus of future oil and gas exploration. The Santos Basin has two sets of hydrocarbon source rocks and three sets of reservoirs. Salt rock is continuously distributed and functioned as an effective cover for oil preservation. The high land of Sao Paulo on the high position of the structure of the lacustrine carbonate rocks is the target for future exploration in the basin.