Many experts admit a big gap between reservoir simulation and daily management of oil and gas fields. Because only a limited number of specialists can use the results of modeling and models get out of date quickly. The necessity to reduce access and update time has driven to development of a Live Model concept. It will reduce the gap between modeling and practical oil and gas field management.The targets of Live Model concept are:• use models as interactive means of teaching;• make models available to everyone, everywhere, anytime;• build updating and monitoring tools for models. In accordance with Live Model concept we developed web-system which enables to perform model monitoring and analysis of reservoir simulation results. Using this tool any specialist by means of a web-browser can do the following:• make analysis of dynamics well data;• make maps, streamlines visualization;• estimate the quality of the models history matching;• create and calculate a simple model. This web-system can act as an integral part of corporate information-engineering portal. Then we have opportunity to use dynamic production data, which is stored in corporate database, and automatically update Live Models. The interaction of web-system for models monitoring and analysis with the corporate database and models accessibility helps the oil and gas companies to use modeling results in the process of decision-making more efficiently. Another crucial factor is the opportunity to employ Live Models as training aids, which significantly reduces learning curve and increases the quality of training.