The S reservoir in the X Oilfield in Iraq has great development potential due to its rich geological reserves. However, the low permeability and strong heterogeneity of the reservoir lead to great differences in reservoir stimulation performance. In this study, an integrated reservoir model and differential stimulation mode are put forward to solve the above problems. First, the feasibility of fracturing is evaluated by laboratory experiments. Second, an integrated reservoir model is established, which mainly includes a rock mechanics model, fracturing simulation model, and numerical simulation model, and correct the integrated model by fracturing operation curves and production dynamic curves. Third, three types of stimulation areas are classified according to the combination of sweet spot types, and three different stimulation modes are proposed. In conclusion, a small-scale stimulation mode should be applied in the Type I area to maximize economic benefits. In the Type II area, the medium-scale stimulation mode should be performed to ensure certain productivity while achieving certain economic benefits. In the Type III area, the large-scale stimulation mode should be employed to obtain certain productivity while economic benefits must be above a limit. The differential stimulation model proposed in this paper has made a great reference for the efficient development of low-permeability carbonate rocks.