The research aims to explore the integrated geothermal extraction and reinjection technology under the guidance of the "dual carbon" target, optimizing the oilfield thermal cycling system for efficient and sustainable geothermal development. Adopting a clustered layout for geothermal wells to construct an integrated geothermal extraction and reinjection system. Taking a pair of geothermal wells as an example, the wellheads are 10m apart, while the well bottoms are 300m apart. Water is extracted from Well 1# for heat supply, and the return water is transported through pipelines to Well 2# for reinjection. The two wells periodically switch functions to ensure the recycling utilization of geothermal resources. The integrated geothermal extraction and reinjection technology effectively prevents resource depletion and environmental pollution. Combined with conventional water blending and oil gathering processes, it ensures system stability and heat source backup. This technology provides an important pathway for the sustainable utilization of geothermal resources. The innovation lies in the clustered layout of geothermal wells and the periodic extraction and reinjection technology, which maintains the thermal reservoir pressure, stabilizes mining conditions, and prevents ground subsidence. This technology has significant importance for the sustainable utilization of geothermal resources and environmental protection.