This study investigates the causes and mechanisms of a corrosion-induced perforation failure in P110 tubing from a nitrogen injection well in the Tahe Oilfield. A comprehensive analysis was performed using macroscopic examination, mechanical and chemical property testing, characterization of corrosion product morphology and composition, and electrochemical measurements. The results show that the tubing material met all relevant standard requirements, ruling out intrinsic material defects as a contributing factor. The primary cause of failure was the breakdown of the internal coating. Poor coating adhesion in the older tubing from the shallow section, combined with the tensile stress from the tubing’s suspended weight and the acidic service environment, led to coating blistering and disbondment, thereby exposing the underlying steel. In the presence of H₂S, CO₂, and O₂, severe electrochemical corrosion developed on the exposed metal surface. The process was further accelerated by a high concentration of Cl⁻, which promoted rapid localized corrosion and ultimately resulted in perforation. Based on these findings, several targeted mitigation strategies are proposed. These include optimizing the coating process to improve adhesion and modifying the corrosive environment. The recommendations provide practical guidance for corrosion control in similar oil and gas well applications.