Abstract: In recent years, the continuous exploration progress in mature areas in continental fault basins in eastern China enables to achieve the benefit reserve increase and obtain discoveries and expansion in new exploration zones, new resource types and new series, and shale oil is growing to be the strategic replacement resources. However, the high-quality exploration also faces some challenges, such as few discoveries with leading significance, great difficulty in large-scale development after obtaining discovery, significant increase in dependence on key exploration support technologies, deterioration in resource quality, and decrease in exploration benefits. By systematically analyzing the exploration situation and potential in mature areas in eastern fault basins of Sinopec, the main direction and countermeasures of exploration transformation and development are clarified. The mature exploration areas in eastern fault basins of Sinopec have resource, theoretical and technological advantages, which is a “ballast stone” for continuous reserve increase. In the exploration work, the objective characteristics of multi-stage and long-term exploration, and coexistence of multi-type resources should be emphasized, and the concept of “no forbidden exploration field” in oil and gas rich basins should be establish to liberate the mind and innovate ideas, so as to achieve the high-quality development. The main direction of exploration transformation and development should be followed to coordinate the relationship between conventional and unconventional resources, fine exploration and large-scale expansion, seismic deployment and high-efficiency exploration,technological breakthrough and achievements transformation; The main countermeasures include the continuous optimization of differentiated deployment in conventional and unconventional resources, improvement in high-precision and high-density seismic exploration, emphasis on the evaluation of remaining oil and gas resources, deployment optimization in “three new” fields, and integrated evaluation; Strengthening the basic exploration work, iterative upgrading of exploration technology, and exploration and development integrated organization and operation are the main means to achieve the high-quality exploration.