Abstract: In order to identify the bottlenecks in the large-scale deployment of carbon capture, utilization and storage(CCUS) by Chinese oil and gas enterprises and to evaluate the potential of carbon trading mechanism to improve project economics, typical international CCUS projects are analyzed, the current status of CCUS projects undertaken by Chinese oil and gas enterprises is summarized. Based on these findings, an integrated life cycle assessment (LCA)−techno-economic assessment (TEA)−carbon trading model is developed, and a carbon footprint accounting and techno-economic evaluation of a million-tonne CCUS-enhanced oil recovery(EOR) project are conducted. The results show that: policy incentives, business models, technological maturity, and source-sink matching are the key factors affecting project deployment; Chinese oil and gas enterprises face five major bottlenecks, namely, insufficient strategic synergy, carbon source supply shortage, high full-chain costs, lagging operational mechanisms, and policy system gaps; the synergistic net present value of the million-tonne CCUS-EOR project is approximately 5.207 billion yuan, indicating that its economic viability is highly dependent on oil recovery revenues, whereas the contribution of carbon asset returns is limited. Accordingly, a three-stage development pathway is proposed, comprising demonstration and validation, regional integration, and large-scale deployment in which accelerating regional CO₂ pipeline network construction and the promulgating of China Certified Emission Reduction(CCER)are identified as the key breakthroughs for scale-up, and four supporting measures are proposed in the dimensions of institutional governance, technology research and development, market operation, and international cooperation.