The light oil wells within the Neogene Shawan Formation have been extensively drilled in the Chepaizi Uplift, reflecting an increase that provides new targets for unconventional resources in the Junggar Basin of northwestern China. However, the original sources of light oil remain controversial, as several source rocks could potentially generate the oil. For this study, we collected light oils and sandstone cores for biomarker detection using gas chromatography–mass spectrometry (GC-MS). Additionally, fluid inclusions were observed and described, and the homogenization temperatures of saltwater inclusions were measured to confirm the oil charging history in conjunction with well burial and thermal history analysis. Based on these geochemical characteristics and carbon isotopic analysis, the results indicate that light oil in the Chepaizi Uplift zone primarily originates from Jurassic hydrocarbon source rocks in the Sikeshu depression, with some contribution from Cretaceous hydrocarbon source rocks. Jurassic hydrocarbon source rocks reached a peak of hydrocarbon generation in the middle to late Neogene. The resulting crude oil predominantly migrated along unconformities or faults to accumulate at the bottom of the Cretaceous or Tertiary Shawan Formation, forming anticlinal or lithologic oil reservoirs. Some oil reservoirs contain mixtures of Cretaceous immature crude oil. During the Neogene light oil accumulation process, the burial rate of reservoirs was high, and the efficiency of charging and hydrocarbon supply was relatively high as well. Minimal loss occurred during the migration of light oil, which significantly contributed to its rapid accumulation.
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