Methods and systems, including computer programs encoded on a computer storage medium can be used for generating dynamic reservoir descriptions using geostatistics in a geological mode. A geological model of a reservoir with petrophysical properties is generated based on seismic data and transient pressure data (402), a dynamic model is populated with the petrophysical properties from the geological model (408). A plurality of sector models, each corresponding to one of a plurality of wells in the area are generated and calibrated (500). The dynamic model is then updated with data from each sector model (602), and intermediate regions between the sector models are populated using geostatistical methods(606). The intermediate regions are then calibrated by removing data from one selected sector model (608) from the dynamic model and populating the vacated sector and intermediate regions using geostatistical distribution methods (610), and comparing modelled pressure test data with the measured data from the well of the vacated sector (616). The petrophysical properties for the intermediate regions are then iteratively adjusted (620) until the modelled data fits reasonably well to the measured data for the sector(618).
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