Integrated Asset Modelling: An Industry Perspective Fredrik Saaf Shell In this high-level presentation we review common challenges in the dynamic modeling of integrated hydrocarbon assets, comprising multiple reservoirs with complex wells producing into integrated surface facilities. We discuss how these challenges are addressed in a new modeling system which Shell has been developing over a number of years in close collaboration with joint-venture partners. To illustrate the classes of problems that can be analyzed in this integrated and collaborative simulation framework, a synthetic asset test problem, based on analogues from ultra-deepwater Gulf of Mexico and pre-salt offshore Brazil reservoirs, is first introduced. Typical aspects of reservoir modeling, fluid modeling, well design, production engineering and operational strategies are discussed in the context of the synthetic asset model. The focus is on multi-disciplinary collaboration across engineering disciplines to deliver solutions for the entire modeling scope. Multi-fidelity is applied in the model building process to bring an appropriate amount of detail to the different parts of the integrated model, as determined by the accuracy required, the data available, the time horizon involved and the engineering questions we are trying to answer. An example of an integrated assessment of uncertainty is also given based on a built-in parameterization framework that allows any model parameter to be treated as uncertain.