The integration of risk analysis and production
history matching is also a subject that has recently
been receiving special attention (Schiozer et al.,
2005; Maschio et al., 2005; Suzuki and Caers, 2006;
MA et al., 2006; Kashib and Srinivasan, 2006).
The general idea is to integrate the processes of
reservoir development when uncertainties exist
and the reservoir management process in order to
mitigate risk gradually as production is observed
and used to reduce uncertainties in geologic attri-butes. This type of procedure has a great potential
of improvement as new tools are being developed
to speed up the process, which requires high com-putational effort