With the continuous promotion of the “dual carbon” strategy, it is an urgent need and inevitable choice for the petroleum and petrochemical industry to strive to develop renewable energy which is mainly new energy, promote the integrated development of oil and gas and new energy, and the green and low-carbon transformation and development. Based on the advantages of oil and gas industry, according to their own characteristics and relying on mining resources, Y oilfields actively explore the adjustment and transformation of new energy structure, try their best to establish a clean, low-carbon, safe and efficient energy system. They take full advantage of solar energy in the area and build a distributed photovoltaic plant above water, which can realize the functions of DC power generation, AC internet access and intelligent metering. The annual power generating hours is 1284.3 h with the power generation amounting to 891.7 × 104 kW·h, which increases the proportion of regional green energy effectively. It is estimated that the standard coal will be saved by 2724.6 t and the carbon dioxide will be reduced by 6928.8 t. What’s more, since CCUS flooding test began in 2007, Y oilfields expand CCUS advanced demonstration area continuously. Focusing on ultra-low permeability reservoirs which are difficult to be produced by water flooding, they improve oil recovery and reduce carbon emissions at the same time. The planned annual oil production is 7.1 × 104 t with the annual capacity of carbon storage of 31.7 × 104 t. With the multi-energy complementary and coordinated development, Y oilfield accelerates the pace of low-carbon transformation and can also be a reference for other traditional energy enterprises to realize green low-carbon transformation.