The waterflooding development of Oilfield fringe area and scattered blocks are restricted by the existing pipe network design and pipeline transportation distance and so on. In order to improve the development effect of these blocks, by using advantages of ESP including high head, range capacity and mature technology, technology of exploiting and waterflooding in one well with ESP was discussed. Then, some key problems were settled such as sand prevention, sealing, downhole monitoring of process parameters, structure design and so on, and three process schemes were summarized including exploiting the upper layer and waterflooding the lower layer, exploiting the lower layer and waterflooding the upper layer and downhole pressurized injection. The technology proposed by this article has achieved good results proved by field applications. The success of the technology provides an economical and reliable energy supply technology for oilfield development, and has a broad market prospect.