Based on the analysis of cooling process and energy consumption of light hydrocarbon recovery plant in a western oilfield, a waste heat recovery and utilization scheme of the natural gas compression system is proposed in this paper.The proposed scheme can solve the problems of cooling system refrigeration in summer and building heating in winter, and realize energy saving and consumption reduction without affecting the production process.The optimal design scheme can save 1226×104kWh of power consumption per year and a 144.5×104m3fuel gas consumption is saved for building heating, domestic hot water and desalinization unit heating in winter.The annual fuel consumption saved is equivalent to standard coal of 2773.2t, carbon dioxide emission reduction by 7377t, and present value saving of 49.642 million yuan in 10 years, which provides guidance for further optimization of oil & gas surface process.