This work presents a numerical model for the analysis of coupled processes of mechanical effects and two-phase flow in fractured porous media using different numerical methods (continuous and discontinuous finite elements), and using the same finite element mesh to represent a cell of reservoir simulation model. The discontinuities are inserted into the mesh as elements of collapsed duplicate nodes. Numerical procedures developed in two distinct groups are used. A first group of simulations deals with a numerical two-phase flow procedure, with special emphasis on obtaining a truly conservative volume balance. At this stage, a numerical formulation using a three-step process is evaluated: The Finite Element Method (EF), for the approximation of the pressure equation; the lower order of Raviart-Thomas method is used to velocity approximation; and the approximation of the saturation equation by the discontinuous finite element method (MEFD), using a multidimensional slope limiter in order to avoid oscillations in the reconstruction of the saturation data. For the validation of the developed formulation, the results obtained are compared with simulations using the Finite Volume Method (VF), with focus on the analysis of the conservation of volumes. The second group of simulations couple the mechanical module (in EF) to twophase flow computer program, so the variation of the stress state, due to exploitation, is considered in the simulations. This analysis allows a better representation of the phenomenon. In addition to providing better results regarding the arrival of water in the producing wells, affecting the productivity of the model.