Carbonate reservoirs worldwide are complex in structure, diverse in form, and highly heterogeneous. Based on these characteristics, the reservoir stimulation technologies and fluid flow characteristics of carbonate reservoirs are briefly described in this study. The development methods and EOR technologies of carbonate reservoirs are systematically summarized, the relevant mechanisms are analyzed, and the application status of oil fields is catalogued. The challenges in the development of carbonate reservoirs are discussed, and future research directions are explored. In the current development processes of carbonate reservoirs, water flooding and gas flooding remain the primary means but are often prone to channeling problems. Chemical flooding is an effective method of tertiary oil recovery, but the harsh formation conditions require high-performance chemical agents. The application of emerging technologies can enhance the oil recovery efficiency and environmental friendliness to a certain extent, which is welcome in hard-to-recover areas such as heavy oil reservoirs, but the economic cost is often high. In future research on EOR technologies, flow field control and flow channel plugging will be the potential directions of traditional development methods, and the application of nanoparticles will revolutionize the chemical EOR methods. On the basis of diversified reservoir stimulation, combined with a variety of modern data processing schemes, multichannel EOR technologies are being developed to realize the systematic, intelligent, and cost-effective development of carbonate reservoirs.

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