A hydraulic control and actuation system for downhole tools. In a described embodiment, a hydraulic control and actuation system includes an internal chamber serving as a low pressure region and a well annulus serving as an energy source. A valve assembly provides selective fluid communication between alternating opposite sides of a piston and each of the energy source and low pressure region. Displacement of the piston operates a well tool. Operation of the valve assembly is controlled via telemetry between a remote location and an electronic circuit of the system.