Abstract: Oil and gas pipeline system has the characteristics of multiple terminals, wide coverage and long lines. Many problems exist in the selection of asset management method and realization of integrity in the entire life cycle, so it is very important to seek for an appropriate asset management method. In this paper, the successful practices of some Chinese and foreign oil companies in asset management are coalesced, indicating that all large oil companies adopt the method of asset integrity management. By investigating asset safety accidents in pipeline system, it is found that key factors inducing such accidents are mainly inadequate supervision or planning. In this regard, this paper suggests that in order to realize integrity of pipeline system, it is essential to maintain the integrity management in the entire life cycle of the assets. The management plan and some improvement suggestions are also provided. It is concluded that by following nine assets evaluation and maintenance procedures and implementing integrity management in the entire life cycle, asset integrity can be realized to capacity.