METHOD FOR DYNAMIC CALIBRATION AND SIMULTANEOUS CLOSED-LOOP INVERSION OF SIMULATION MODELS OF FRACTURED RESERVOIRS

Systems and methods for generating a fractured reservoir model include: receiving a seismic dataset of a surveyed subsurface; identifying a dynamic response of each parameter; selecting a subset of parameters from the set of parameters based on the dynamic response of each parameter; sampling an outer boundary of a parameter uncertainty domain; adjusting the range of values associated with each parameter of the subset based on the sampling; generating a geo-model based on the adjusted range of values associated with each parameter of the subset; generating a discrete fracture network model based on the geo-model; generating a scenario of a simulation model based on the discrete fracture network model and the geo-model; performing a forward simulation based on the scenario of the simulation model; determining that a misfit of the forward simulation is below a threshold by evaluating an objective function; and producing a model based on the forward simulation.