Formate drilling and completion fluid system is a new type of clean organic salt brine system which has been developed from inorganic salt brine drilling fluid system. It is beneficial to protecte and find hydrocarbon reservoir. Due to the solid free system, the damage of solid phase particles on reservoir, especially low permeability oil and gas layer, can be greatly eliminated, at the same time, drilling fluid and completion fluid have greater compatibility. It will avoid that precipitation which is not compatible with drilling and completion fluid and generates damages on reservoir. And because mud cake of the solid free system is thin and resilient, it is conductive to improve cementing quality greatly. Experiments show that the formate drilling and completion system has good rheological property, strong inhibition ability, good lubricating performance, good compatibility with reservoir rocks and formation water at high temperature.