The need to enhance recovery from the vast amount of remaining oil- and gas-in-place in the carbonate reservoirs requires better reservoir management practices. Proper timing has a profound effect on the implementation of sound reservoir management technology on recovery efficiency. With this in mind, our goal should be to maximize volumetric sweep early in the project's life. Trying to squeeze more oil from marginal projects will generally yield marginal to average results. The purpose of this paper is to: (i) identify the major attributes of a successful waterflood asset management program, (ii) outline critical issues and technical areas, and (iii) document benefits received from a team approach to asset management, utilizing carbonate reservoir case studies.

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