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Closed-loop reservoir management is a combination of model-based optimization and data assimilation (computer-assisted history matching), also referred to as ‘real-time reservoir management’, ‘smart reservoir management’ or ‘closed-loop optimization’. The aim is to maximize reservoir performance, in terms of recovery or financial measures, over the life of the reservoir by changing reservoir management from a periodic to a near-continuous process. The key sources of inspiration for our work are measurement and control theory as used in the process industry and data assimilation techniques as used in meteorology and oceanography. We present results of a numerical example to illustrate the scope for closed-loop water flooding using real-time production data under uncertain reservoir conditions. The example concerns a 12-well water flood in a channelized reservoir. Optimization was performed using …