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Improving the production forecast of a hydrocarbon resource using reservoir simulation models, allows us to have a better prediction of reserves. This is important in asset development due to uncertainties that can reduce the expectation ultimate recovery after development. The resulting optimized production forecast allows for a better reservoir management plan. This paper presents the methodology and reservoir tools to improve production forecast for fields under development. This methodology was applied in the case of HMS Field and the information obtained can be applied in optimizing the production forecast for other fields. In the case of HMS field, the estimation of the production forecast was initially given by a first reservoir model (RMV1) of the field. After the acquisition of new seismic data, the production forecast needed to be improved. The field studied is composed of 3 main reservoirs. Therefore, the improvement of the global production forecast has been made by generating up to date vertical lift performance (VLP) curves representative of the oil producers and water injectors based on the new data, and by connecting these VLPs on one hand to the 3 individual reservoir models, on the other hand to the new version of the global reservoir model (RMV2). Moreover, VLPs for the network (from the Well heads to the FPSO) have been built in order to test their impact on the merged model (RMV2). The results show that for the individual reservoirs and merged model, there is marginal improvement in the reserves. Sensitivity analysis and pressure gradient comparison for the wells were also investigated to manage uncertainties in the study. The results obtained were benchmarked against RMV1. The integrated approach used in the study across the Reservoir Engineering, Drilling Engineering, Completions and Geosciences disciplines allowed for seamless delivery.