Methods, systems, and computer readable media are provided for real-time oil and gas field production optimization using a proxy simulator. A base model of a reservoir, well, pipeline network, or processing system is established in one or more physical simulators. A decision management system is used to define control parameters, such as valve settings, for matching with observed data. A proxy model is used to fit the control parameters to outputs of the physical simulators, determine sensitivities of the control parameters, and compute correlations between the control parameters and output data from the simulators. Control parameters for which the sensitivities are below a threshold are eliminated. The decision management system validates control parameters which are output from the proxy model in the simulators. The proxy model may be used for predicting future control settings for the control parameters.