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Energy Voice | Petrofac boss gets 15% pay boost to £1.7m

Petrofac chief executive Ayman Asfari saw his take-home pay increase by 15% last year, pocketing £1.7million.

His total remuneration (£1,718,000) was revealed in the energy services giant’s annual report.

Mr Asfari’s pay package included £685,000 in base salary, along with an annual bonus of £960,000 and other benefits, up from a total of £1,485,965 in 2017.

It comes as Petrofac more than doubled its profits last year to £80.5m, up from £34m in 2017.

Chief financial officer Alastair Cochran also got a boost, taking home a total of £1.1m, up from £1m the year previously.

Despite positive results, the firm has been the subject of an ongoing investigation by the Serious Fraud Office, with former global head of sales David Lufkin pleading guilty to bribery in February.

Meanwhile, North Sea workers last month took part in strikes on Total assets as a protest to changes to offshore rotas, with Petrofac workers on BP assets also voting to go on strike over the same issue.

In response, a spokesman for the RMT Union said: “We find it perverse that these organisations can consider this kind of reward to senior staff ‘reasonable’, while for the last four years the people adding the value get treated poorly.

“More hours for less money, loss of leave, slashed sick pay, pensions, travel, training rates, it’s been a diet of attrition for the workforce and somehow that equates to rewarding the already ‘big earners’ with even more money? How can that possibly be considered fair and equitable?

“His £960,000 bonus alone would have kept 20 workers gainfully employed in the North Sea for a year.”

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