Hydrocarbon production forecasting with limited data - how to fill the gaps

In the proces of quantifying hydrocarbon production forecast of reservoirs the pertinent questions are: • How do we parameterize reservoirs both meaningfully and efficiently ? • Which criterion should be used in determining how good a history match really is? • How do we search/characterize the parameter space of a reservoir efficiently and in an unbiased manner? • How do we perform forward modeling of the hydrocarbon recovery efficiently, yet with good accuracy?