In recent years, major breakthroughs have been achieved in oil and gas exploration within China’s complex thrust–fault zones in the western region, confirming their significant potential. The northern piedmont zone of the Turpan–Hami Basin, a classic thrust–fold belt formed by the Bogda Orogenic belt’s overthrusting, has seen the discovery of several Jurassic–Cretaceous hydrocarbon fields, yet exploration at its thrust-front margins remains relatively underdeveloped. This study focuses on the central piedmont segment at Qialekan and Kekeya, integrating 3D seismic data with fault-related folding theory and balanced cross-section restoration to systematically analyze the area’s tectonic evolution. We specifically examine the formation and modification of wedge structures and assess their petroleum geological significance. Our results indicate that the wedge bodies formed in the Late Jurassic, along with their subsequent basinward insertion, critically controlled the present-day structural framework. In the Qialekan area, wedge formation coincided with the main hydrocarbon expulsion phase of underlying Permian source rocks. Type I faults acted as effective migration pathways, while later tectonic reworking was limited, favoring for hydrocarbon preservation. In contrast, in the Kekeya area, wedge structures underwent intense modification by Type II faults, which pierced the wedge and facilitated vertical hydrocarbon migration, creating a mixed-source accumulation pattern. The findings of this study provide new theoretical insights and practical guidance for future exploration in the northern piedmont zone and also offer a valuable reference for hydrocarbon exploration in structurally similar foreland basins.