Multiple large-scale oil and gas fields have been discovered in the middle and northern sections of the Aryskum Sag in the south Turgai Basin. However, the southern section has a low level of exploration. Through research on the structural background, geological characteristics, and oil and gas concentration of the southern section of the Aryskum Sag, it is believed that two sets of accumulation models, upper-source and in-source, have developed in the southern section of the Aryskum Sag. Among them, the upper-source reservoirs are mainly structural-lithological oil and gas reservoirs, which are distributed in the center of the sag and near the strike-slip fault zone. In this kind of hydrocarbon accumulation model, the oil and gas mainly formed from the Middle Jurassic source rocks migrate upward along the strike-slip fault and then accumulate and form reservoirs in the Upper Jurassic and Lower Cretaceous channel sandstone bodies. Effective connectivity between strike-slip faults and channel sand bodies is the key to upper-source accumulation. In-source accumulation mainly forms gas reservoirs, which are distributed in the slope areas of the sag edge. The gas formed by deep source rocks migrates laterally upwards and is directly injected into the gravity flow lithology enclosed by the source rocks and accumulated into reservoirs. The development scale of lithological bodies and good reservoir properties are the main in-source accumulation controlling factors for reservoir formation and production. The distribution of oil and gas in this area is mainly controlled by the distribution of hydrocarbon generation centers. Therefore, the Lower Jurassic lithological gas reservoirs and the Upper Jurassic and Lower Cretaceous structurally lithological oil and gas reservoirs developed in the strike-slip fault zone are the main targets for the next exploration, which is located near the hydrocarbon generation center and at the edges of the sag in this area.