PETROFAC chief executive Ayman Asfari saw the total value of his pay package increase by around 56 per cent in dollar terms last year. The oil and gas engineering giant’s annual report shows Mr Asfari’s total remuneration increased to $1.82m in 2016 from $1.16m the preceding year. Mr Asfari received an $833,000 annual bonus in 2016. He did not get a bonus in 2015. Petrofac, which employs about 4,000 people in Scotland, increased underlying profits to $320m in 2016 amid challenging trading conditions, from $9m in 2015. It booked a $101m charge in respect of a contract to build a terminal on Shetland to process gas from the Laggan Tormore field for Total, taking total losses on the job to around £500m. The report notes Mr Asfari was paid in sterling. Currency movements impacted on the dollar value of his earnings.
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