Reservoir characteristics such as size and permeability are often non-trivial, which is why sophisticated yet often time-intensive numerical models are commonly used in the Closed-Loop Reservoir Management of subsurface reservoirs in order to maximize profit from oil production. For certain reservoirs, however, simple analytical models can accurately compete with such numerical models at lower computational efforts. Analytical linear and radial displacement models as well as various pressure models are derived and combined in this thesis, and are shown to be accurate approximations of one- and two-dimensional two-phase flow in a multi-layered, rectangular, and horizontal reservoir. Assuming among other that each layer is operated by a single injector-producer pair as well as that each layer is homogeneous and isolated from other layers, simplifies the equations and prevents cross-layer flow. If cross-layer flow does occur, however, then the considered analytical models are unable to accurately describe the reservoir flow.