The use of finite-element models in oil reservoir simulation was not widespread. Based on models described in the late seventies, we developed discrete-fracture, finite-element models for multiphase reservoir simulation (AIChE, 2000, SPE 93292, SPE 99715). These models are alternative to dual porosity, dual permeability models for describing multiphase flow in fractured media. We have developed models based on two distinct discretization methods; the control-volume finite element and the mixed finite element. The simulators use modern linear solvers, have XML input files and are modular and parallel. We have also developed a thermal and a pair of compositional simulators (K-value and equation of state based) for systems of complex geometry. We have also developed a general framework that allows us to segment the discretization and physical-model attributes. This allows for more flexible simulator development in an academic setting. As we continue to add more physical phenomena into the simulators, we will also work on gridding methods, adaptive mesh refinement (which is more challenging in the world of unstructured grids) more efficient solution methods, scalable parallel implementations, etc. We manage our own 20-processor Linux cluster, where we develop effective parallel methods.