<p indent=0mm>QK-1 is the first scientific drilling designed to solve the key problems in petroleum geology in the Qiangtang Basin on the northern Tibetan Plateau. Its altitude is <sc>5030 m,</sc> and the well depth is <sc>4696.2 m.</sc> It is also the highest-altitude scientific drilling on the globe, and is located in the Lake Bandaohu area in the northern Qiangtang Basin. By performing the QK-1 and its affiliated shallow drillings, a series of new discoveries has been made in regard to high-quality regional seals, source rocks, petroleum displays and the Jurassic strata succession. (1) Two sets of caprocks, which could be regional high-quality seals, were discovered through drilling, i.e., an anhydrite layer in the Quemoco Formation (J<sub>1-2</sub><italic>q</italic>) <sc>(354–365 m</sc> thick) and a gypsum-bearing mudstone in the Xiali Formation (J<sub>2</sub><italic>x</italic>) <sc>(230–252 m</sc> thick). Comprehensive analyses of drilling and seismic data show that the distribution of these caprocks is regionally continuous and stable. Moreover, petroleum displays and well logging data reveal that these two caprocks are characterized by low porosity, good permeability (the mean permeability is <sc>0.265×10<sup>−3</sup> μm<sup>2</sup>,</sc> and the mean breakthrough capillary pressure is <sc>9.0 MPa),</sc> and good sealing. (2) The northern Qiangtang Basin contains high-quality hydrocarbon source rocks in Upper Triassic deltaic facies. The affiliated shallow drillings reveal a good Upper Triassic hydrocarbon source rock in a coastal swamp-deltaic plain facies on the northern Qiangtang Basin margin. The two mudstone source rock members have a thickness of <sc>36.0 m</sc> and total organic carbon (TOC) values of 2.0%–3.6%, and a thickness of <sc>61.0 m</sc> and TOC values of > 1.0%, respectively. The organic matter type is II<sub>1</sub>-, II<sub>2</sub>- and III-type kerogen with high to over-thermal maturation. Well logging, seismic data and facies analyses indicate that the pro-deltaic to shelf mudstones in the covered area in the central northern Qiangtang Basin are better source rocks than those in the deltaic plain on the basin margin. (3) Well logging petroleum displays provide important insights for petroleum reservoir formation and destruction. Based on petroleum displays and evidences of gas release in 250 outcrops, the QK-1 scientific drilling has also discovered 14 petroleum anomalies in the Eocene Suonahu Formation, Middle Jurassic Buqu Formation and the Upper Triassic Nadigangri Formation. One anomaly is oil-bearing, while thirteen anomalies are gas-bearing. The total hydrocarbon value of gas logging is 10%, and is mainly methane in composition. The petroleum displays of well logging occurred after drilling through the Xiali or Quemoco formations which are caprocks, while outcrop petroleum displays are mainly distributed on the basin margin or central uplift which are strong tectonic deformation zones. The widespread petroleum displays indicate good hydrocarbon-generation conditions and petroleum reservoir formation/destruction processes, while the distribution characteristics of petroleum displays indicate that the high-quality regional-seals-covered area in central basin could be favorable plays of petroleum reservoirs. (4) The QK-1 drilling cut through a sedimentary succession from the Upper Jurassic to Upper Triassic, i.e., from the upper to the bottom, the Upper Jurassic Suowa Formation (J<sub>3</sub><italic>s</italic>), Middle Jurassic Xiali (J<sub>2</sub><italic>x</italic>) and Buqu Formations (J<sub>2</sub><italic>b</italic>), Middle-Lower Jurassic Quemoco Formation (J<sub>1-2</sub><italic>q</italic>) and Upper Triassic Nadigangri Formation (T<sub>3</sub><italic>nd</italic>), in which the whole Jurassic strata is completely continuous. The Jurassic sedimentary succession shows a transition from alluvial facies to shore, shallow shelf and carbonate platform facies up section. This finding breaks the previous view that suggests a lack of Lower Jurassic strata, and provides new basics for Qiangtang Basin analysis. Overall, the discovery of two regional high-quality seals in the Jurassic Quemoco and Xiali formations in the Qiangtang Basin refutes the previous traditional perception, which suggests poor petroleum preservation conditions. The northern Qiangtang Basin contains high-quality source rocks with great hydrocarbon generation potential in the Upper Triassic deltaic facies. Petroleum display anomalies and distribution characteristics reveal that the Qiangtang Basin not only underwent large-scale hydrocarbon generation, reservoir formation/destruction processes, but also developed favorable display of petroleum preservation. The establishment of a continuous Jurassic strata succession provides a new evidence and valid framework for petroliferous basin analysis of the Qiangtang Basin.