Based on the characteristics of recent discoveries in China, continental clastic reservoirs are the most important area for reserves and production growth. Significant progress has been made in exploration of carbonates reservoirs, for example, platform-margin reef complexes and platform interior reefs and banks. Volcanic reservoir exploration in sedimentary basins is feasible now. Mature oilfields with high water cut are predominant in the oil production in China. Some technological problems facing the stable production of mature oilfields have been solved by fine characterization of reservoirs, improving water flooding conditions, and EOR techniques.