Because of the high investment, long construction duration and high risk, project cost management has become the core of project management in oil and gas industry.At present, the project cost management of theoil and gas industry is quite traditional, with low degree of informatization and lack of dynamic accumulation of the cost database.Integrated cost estimation system which is based on artificial intelligence identification technology can automatically import design data and price of equipment and materials.Besides, this system can gradually accumulate cost database which is very helpful for the development of company.This is a big innovative breakthrough for cost estimation work.This paper hopes to provide reference for the frontier development of domestic cost estimation industry.