Based on the existing high-resolution 2D seismic data and provenance supply mode, the depositional sequence, provenance features and oil-gas exploration prospects were analyzed. In the stable thermal subsidence period, the depocenter has moved to the center, the contribution of North Shelf-Slope and Xisha trough provenance systems was reinforced in the short term and produced a large-scale deepwater fan and deepwater channel system, while the Zhong-Xisha uplift provenance system was weakened. Large scale deepwater fans and channels were developed within the basin. Compared with neighboring areas with middle-high exploration level, the study area shows a promising exploration targets.