Fractured carbonate reservoirs are a unique type of oil and gas reservoir. They are a collection of fractures and caves formed during tectonic movements, geological exposure, and deep burial periods, characterized by strong vertical and horizontal heterogeneity, irregular spatial contours, complex fluid characteristics, and diverse flow patterns. Due to these factors, compared to conventional clastic rock reservoirs, the efficient development of fractured carbonate rock reservoirs is more difficult, and the overall recovery rate is at a lower level. In order to effectively improve the recovery rate of oil and gas reservoirs, a large number of commonly used extraction methods for various clastic rock reservoirs have also been introduced. However, the actual application effect is not stable. The same method has significant effects under different conditions, and sometimes the effect is not good. The reason for this is due to insufficient accuracy in reservoir description. Thus, this article proposes the following improvement methods, which first apply high-precision seismic inversion results for fine reservoir description, in order to more accurately reveal the complex structure and characteristics of oil and gas reservoirs; Secondly, on the basis of clarifying the well storage relationship, in-depth analysis of the oil–water relationship is conducted in combination with production dynamic data; Finally, determine appropriate extraction measures based on the aforementioned analysis results. Through this method, we have achieved good practical application results in Tazhong area of Tarim Basin.