The world primary energy system will continue to be dominated by oil and gas, which will represent more than 90% of the primary energy use in the transport industry by 2030. A 100% increase is projected for natural gas, which, in 2030, would represent 25% of world energy supply, while alternative, renewable energies will only account for 4% of the world energy mix. Given these figures, the need to develop safer, environmental friendly, and more efficient technologies for the sub-surface exploitation of natural resources is obvious. The Smart Reservoir Net, a network initiated by the European Oil and Gas Innovation Forum, EUROGIF, and supported by the European Commission, invites pan-European stakeholders, decision-makers, operators and suppliers, as well as scientific and research institutes to pool their expertise and to jointly identify those Research and Development (R&D) priorities in the reservoir domain enabling the development of the technology needed to find and produce,fossil fuels with minimum discharge and emissions. At the same time, the Smart Reservoir Network is seeking to identify ways to use fossil fuels more intelligently through decarbonisation and CO2 management. After a first period of consolidation and basic research, the Smart Reservoir Net now went online: http://www.smart-reservoir.net Membership in the Smart Reservoir Network is free of charge and offers a vast array of benefits - the most important one being networking". The Smart Reservoir Network offers the possibility to get in touch with other scientific and industrial players of the oil & gas community and provides a medium for the discussion of common problems and the sharing of knowledge, information and expertise on a wide range of topics related to sub-surface exploitation of natural resources. The next main networking event organized by the Smart,Reservoir Net will take place on 29-30 November 2004 in Moscow, Russia. The aim of this international conference on key challenges of the reservoir domain is to deepen the cooperation between European and Russian service & supply industries, operators, and the research sector. By the end of 2005, the members of the Smart Reservoir Network will jointly establish a comprehensive state-of-the-art analysis of the scientific and technological aspects involved in the overall sub-surface exploitation, identify the main technology gaps, and produce a Vision,Master Plan to devise a coordinated strategy for future research activities and/or the deployment of existing technologies to increase the rate of recoverability of hydrocarbon reserves in a safe, environmental friendly, and cost-effective way.