Richard Keith Penney

Mr. Richard Keith Penney

Current Job title

Vice President, Field Development at Schlumberger Production Management (SPM)

Responsible for all field development and subsurface activities across SPM investments, producing assets and new ventures globally. Instrumental in fast track EOR and Waterflood developments. We have increased co-managed production from 50K to over 250k bopd in four years and we are still rapidly growing despite the low oil price.


Bachelors, Engineering Science and Mechanics. Auckland NZ


September 2015 – Present(1 year 1 month)

Vice President, Field Development

Schlumberger Production Management

January 2015 – September 2015(9 months)


VP New Ventures & Technical Affairs

Responsible for assurance of all technical activities across SPM assets and new ventures rapdily growing to close to 200 000 boepd globally from Latin America (Ecuador, Colombia, Mexico), USA Unconventional oil, gas in Romania, Offshore Malaysia and tight gas in China. Direct reporting of discipline Chief Engineers/Geoscientist and regional Field Development managers plus functional reporting of asset Exploitation and Development Managers.
On the new ventures side lead technical endorsement of asset evaluations (>10/year) and investment proposals (1-3 new contracts per year).

Jul 2011 - Dec 2014(3 years 6 months)

Global Development Planning & EOR Director
SPM (Muscat, Oman)
Director of Development Planning, EOR, Subsurface, Asset Evaluation across SPM Projects and New Ventures/BD.
Functional manager of all Exploitation/Subsurface/EOR/Asset Evaluation Managers in SPM.
- Senior Management role in new SPM venture assisting in growth from 50,000 bopd on start up to 130,000 bopd within 6 months, with plans for 200,000 bopd within 2 years
- Responsible for all field development activity in 10 projects world-wide plus quality of technical asset evaluation for 6 BD teams Global technical advisor for field development planning and EOR
- Leader of BD projects involving heavy oil in Mexico and Albania
- Recruitment and functional reporting of development managers and subsurface teams
- EOR/Heavy Oil and Field Development Advisor across Schlumberger

SLB's first Field Development Planning Advisor with Asset Management experience in Australia (Tight Gas), Oman (Fractured Carbonate EOR) and Kuwait (NK Jurassic Gas).

Aug 2009 - Jun 2011(1 year 11 months)

Manager EOR & Middle East Projects
IPM (Kuala Lumpur, Malaysia)
Global EOR manager and business development/ project manager for FDPS in the Middle East.
- Business development, project set up and project management for joint projects in Middle East/Asia region, including a $5 billion offshore gas/condensate project
- Global technical advisor for field development planning and EOR
- Screening of opportunities in Middle East, Asia, Latin America
- Development of new lines of business: a "one stop shop" for EOR pilots; managed a major thermal EOR project design and implementation in Sudan
- Instrumental in signing strategic alliances and managing business development projects with NOCs in Sudan, Iraq and Vietnam

Led the patherfinder for EOR pilot operations with WNPOC/Petronas in South Sudan, which although on hold gave SPM the confidence to bid for heavy oil EOR projects around the world.
Also led the Sudapet Block 2B Opportunity Review and advised on among others Iraq (Lukoil and Kirkuk), KOC (Heavy Oil) and Egypt BD opportunities.


Jan 2008 - Jul 2009(1 year 7 months)

Asset Manager, N Kuwait Jurassic, FDPS
IPM KOC (Ahmadi, Kuwait)
Line & Operations Management
Built an integrated project team with KOC to deliver the NKJ Fields Development Plan in Q2'2009. This project has significant challenges of fractured carbonates, gas/condensate and volatile oil in overpressured reservoirs at 14,000ft. The innovative approaches to reservoir modelling have won the PbS Chairman's Award for 2009.

Aug 2007 - Dec 2007(5 months)

Chief Value Assurance Advisor
Petroleum Development Oman (Muscat, Oman)
Led business value reviews of major field development projects including a $1bln thermal EOR project and a $800mln gas liquids recycling project.
Developed a new approach and guideline for these reviews for Oman, leading to improved feedback from Project Managers and Teams.

May 2004 - Jul 2007(3 years 3 months)

Subsurface Project Manager, QA Steam
Petroleum Development Oman (Muscat, Oman)
Line & Operations Management
Led a $1.5 bln world first steam project in fractured carbonates at the 1 bln bbl Qarn Alam field.
Turned around a project "going nowhere" to final go-ahead and recieving the Shell ME Gold Award for Excellence. In doing so, faced, and resolved, considerable uncertainty and development planning challenges and gained credibility with stakleholders as documented in SPE papers.
Developed a concept for solar steam generation proposed for trial, now being implemented as a "demonstrator" by PDO.Also led a PDO-wide review of the Gas/Water/Energy supply strategy in support of EOR projects.

Jan 2001 - Mar 2004(3 years 3 months)

Performance Improvement Manager
Santos Ltd (Adelaide, Australia)
Responsible for introducing state of the art economic, portfolio management and planning processes. Selected PEEP and Capital Planning as the preferred toolkit and led technical and procedural introduction, including Board level culture change.

May 1996 - Jan 2001(4 years 9 months)

Tight Gas Manager
Santos Ltd (Adelaide, Australia)
Line & Operations Management
Responsible for leading a task force responsible for introducing best/appropriate practices to exploit tight gas onshore Australia. Introduced air drilling for evaluation, PDA for assessing post-fracture stimulation well performance, rock typing, waterfracs etc. in a $50mln field trial campaign that led to booking the largest onshore gas discovery for 20 years.

Jun 1994 - May 1996(2 years)

Chief Petrophysicist
Santos Ltd (Adelaide, Australia)
Line & Operations Management
Recruited and built an 8 man organisation in techncial services covering assets in North Sea, US-GOM, SE Asia and Australia. Had a significant impact on reserves/acquisitions in an offshore Australian oil field, and improved practices for reserves determination.

Jan 1991 - May 1994(3 years 5 months)

Senior Business Analysis Advisor
Shell International (The Hague, Netherlands)
Involved in business analysis and process reengineering projects world-wide including those involving the EP Business Model.

Oct 1989 - Dec 1990(1 year 3 months)

Senior Economics & Planning Engineer
Shell/PDO (Muscat, Oman)

Jun 1987 - Oct 1989(2 years 5 months)

Lead Petrophysicist, Exploration Evaluation
Shell/PDO (Muscat, Oman)

Aug 1985 - May 1987(1 year 10 months)

Senior Petrophysicist, Groningen
Shell/NAM (Assen, Netherlands)

Mar 1982 - Aug 1985(3 years 6 months)


Petrophysicist & Wellsite PE
Shell/NAM (Assen, Netherlands)