Abstract: Constant-volume carbonate reservoirs are mostly distributed around branch faults and dominated by cavernous reservoirs which are characterized by weak formation energy, rapid drop of formation pressure, small controlling range of single well and no yield of formation water. The comprehensive analysis shows that with the stop of tectonic movement and hydrocarbon charging, the formation water under the water-oil contact in the branch faults was in a relative static state after hydrocarbon accumulation, calcite separated from the formation water and plugged the early fluid migration paths under the water-oil contact, oil and gas sealed the spaces above the water-oil contact and finally constant-volume reservoirs with no water formed. Based on the study of the dynamic and static characteristics of constant-volume reservoirs and reservoir development practices, the paper presents 2 development measures such as multiple targets in one well and water-injection oil production