In recent years, the self-elevating derrick substructure which with the characteristics of easy to install、remove and transfer are gradually replacing layer box, box block substructure, etc. The three-dimensional finite element model of the MXD-701 jack-up derrick and substructure, which is used to analyze static properties of the petroleum substructure under the six different working loads are built by the ANSYS finite element software. Meanwhile, the wireless structural testing system（STS-WiFi）is testing at the MXD-701 petroleum substructure. Then comparing of the model results and testing results. Analysis results indicate that the stress of the substructure at the two beam table is greatest, the stress of the upper part of the guy column is much greater, and others are low, but in general, the overall substructure can fit the requirements of the strength and intensity. The compared results can accurately reflect the project structure of the stress and strain. Then, we can get the capacity of the substructure in order to provide evidence to the security situation of the substructure. It will have great significance to enrich and develop the mast base design and safety assessment theory.