Knowledge of changes in reservoir properties resulting from extracting hydrocarbons or injecting fluid is critical to future production planning. Full-waveform inversion (FWI) of time-lapse seismic data provides a quantitative approach to characterize the changes by taking the difference of the inverted baseline and monitor models. The baseline and monitor data sets can be inverted either independently or jointly. Time-lapse seismic data collected by ocean-bottom cables (OBCs) in the Valhall field in the North Sea are suitable for such time-lapse FWI practice because the acquisitions are of a long offset, and the surveys are well-repeated. We have applied independent and joint FWI schemes to two time-lapse Valhall OBC data sets, which were acquired 28 months apart. The joint FWI scheme is double-difference waveform inversion (DDWI), which inverts differenced data (the monitor survey subtracted by the baseline survey) for model changes. We have found that DDWI gave a cleaner and more easily interpreted image of the reservoir changes compared with that obtained with the independent FWI schemes. A synthetic example is used to demonstrate the advantage of DDWI in mitigating spurious estimates of property changes and to provide cross validations for the Valhall data results.