The largest Precambrian gasfield in China has been found in the central Sichuan Basin. It has been assumed as an Ediacaran (Sinian) mound–shoal, microfacies-controlled, dolomite reservoir. However, the extremely low porosity–permeability and heterogeneous reservoir cannot establish high production by conventional development technology in the deep subsurface. For this contribution, we carried out development tests on the fractured reservoir by seismic reservoir description and horizontal well drilling. New advances have been made in recent years: (1) the prestack time and depth migration processing provides better seismic data for strike-slip fault identification; (2) seismic planar strike-slip structures (e.g., en échelon/oblique faults) and lithofacies offset together with sectional vertical fault reflection and flower structure are favorable for strike–slip fault identification; (3) in addition to coherence, maximum likelihood and steerable pyramid attributes can be used to identify small strike-slip faults and for fault mapping; (4) fusion attributes of seismic illumination and structural tensor were used to find fractured reservoir along fault damage zone; (5) horizontal wells were carried out across the strike-slip fault damage zone and penetrated fractured reservoir with high production. Subsequently, a large strike-slip fault system has been found throughout the central intracratonic basin, and the “sweet spot” of the fractured reservoir along the strike-slip fault damage zone is widely developed to be a new favorable domain for high-production development. There is still a big challenge in seismic and horizontal well technology for the economical exploitation of the deep fractured reservoirs. This practice provides new insight in the deep tight matrix reservoir development.