EnQuest CEO gets 35% boost to pay package

EnQuest CEO Amjad Bseisu
EnQuest CEO Amjad Bseisu

EnQuest CEO Amjad Bseisu saw his take-home pay increase by more than a third in 2018 to £1,352,000.

The total pay package, including bonuses and other benefits, is up by 35% from 2017, which totalled £998,000.

Mr Bseisu received a base salary of £461,000, boosted by long-term incentives of £386,000 which accounted for the main differences between 2018 and 2017.

The figures were disclosed in EnQuest’s annual report.

His take-home pay compares, for example, with contemporary Robin Allan, CEO of Premier Oil, who last year received a total of £1.5m.

It comes after EnQuest posted pre-tax profits of £222.3m in its full-year results, up from £36.2m the previous year.

The company has taken various measures to improve efficiency in recent months, implementing a new rota system offshore and taking on 146 staff from Petrofac.

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