Abstract: Rational development of a carbonate pool must be preceded by a serious study of such basic problems as the rate of recovery, well density, etc. Based on the analysis of production statistics from the Renqiu oil field and the numerical simulation of water cone, a comparative study is made of the results of development with different rates of recovery and different well density. It is obvious that to prolong the period of production without watercut is critical to improving the efficiency of development of carbonate oil pools, because the appearance of water in a well means the end of its steady high-yielding period. But, the choice of a rational rate of recovery is all the more important both for prolonging the period of production without watercut and for increasing the recovery factor. To ensure steady production of an oil field in line with some specific target, the rate of recovery should be so chosen as to cause a gradual rise of bottom water, a uniform upward movement of oil-water interface and a higher efficiency of driving oil through the rock pores. The result of our study reveals that the rational rate of recovery for the Renqiu oil field should be less titan 2%. Given a specific rate of recovery, different well density for the different stages of development will give different results. For the Renqiu oil field, the rational well density is 0.75-1 well per square kilometer. Starting from the geological features in Renqiu and after comparing the results of exploitation of wells with different height of oil columns, it is proposed that the wells should be located in areas where the height of oil column is equal to or greater than the average thickness of the reservoir.