Y Formation of X oilfield is characterized by low porosity, compact lithology, poor physical property, high clay mineral content and strong reservoir sensitivity. It tends to experience issues such as water sensitivity, water blocking and sand production after conventional hydraulic fracturing, thereby affecting the exploration and development effectiveness. To solve this problem, research on CO2 quasi-dry fracturing technology has been conducted, focusing on aspects such as CO2 quasi-dry fracturing mechanism, fracturing fluid system composition, temperature and shear resistance, and sand-carrying performance. A kind of water-based fracturing fluid mixed system has been developed, which has the advantages such as minimal reservoir damage, strong fracture-forming ability, good sand-carrying performance, and low friction resistance. It is suitable for CO2 quasi-dry fracturing fluid system in Y Formation. The fracturing construction scale, fracture half-length and pumping rate were optimized. This technology was pilot-tested in Well LA1-1, achieving a daily oil production of 6.20 tons after fracturing, demonstrating a significant oil production increase. Research and field tests have shown that the CO2 quasi-dry fracturing fluid system has advantages such as low friction resistance, convenient blending and injection, and strong sand-carrying ability, coupled with good oil production enhancement effects. This technology provides a new technical method for the efficient development of strongly water-sensitive reservoirs.