This paper discusses the reservoir space in carbonate rocks in terms of types, combination features, distribution regularity, and controlling factors, based on core observations and tests of the North Truva Oilfield, Caspian Basin. According to the reservoir space combinations, carbonate reservoirs can be divided into four types, i.e., pore, fracture–pore, pore–cavity–fracture, and pore–cavity. Formation and distribution of these reservoirs is strongly controlled by deposition, diagenesis, and tectonism. In evaporated platform and restricted platform facies, the reservoirs are predominately affected by meteoric fresh water leaching in the supergene–para-syngenetic period and by uplifting and erosion in the late stage, making both platform facies contain all the above-mentioned four types of reservoirs, with various pores, such as dissolved cavities and dissolved fractures, or structural fractures occasionally in favorable structural locations. In open platform facies, the reservoirs deposited continuously in deeper water, in an environment of alternative high-energy shoals (where pore–fracture-type reservoirs are dominant) and low-energy shoals (where pore reservoirs are dominant).