ABSTRACT
There are well-known facts regarding the shortcomings of the numerical reservoir simulation and its applications that need to be addressed if this tool is to be used effectively for the geological sequestration of Carbon dioxide. The hydrocarbon exploration and production industry has been well aware of these shortcomings, and for the past several decades a massive amount of effort has been expended to address them. The response of the industry has been to develop proxy models to address the above-mentioned issues with numerical reservoir simulation models. Developing proxy models has a long history in the oil and gas industry and in many other industries that use numerical simulation. Proxy models provide fast approximated solutions that substitute large numerical simulation models. Smart proxy modeling was first introduced as the "surrogate reservoir model" (SRM) in 2006. The original SRM only dealt with pressure and fluid rate profiles at the well, and therefore was later named "well-based SRM".
