Our aim is to develop efficient software tools for the optimization of oil field development and operations. This includes data assimilation, fast simulation, model updating, and optimal control. Techniques being developed by our group are essential for the success of Smart Fields, also known in industry by names such as i-fields, e-fields, Field of the Future, etc. Optimal control can be implemented in existing fields at any stage of their development and in new fields. We have demonstrated that traditional approaches for developing and operating oil and gas fields are rarely optimal. The positional gains of deploying these new technologies are very significant.