Iskander to replace Asfari as Petrofac CEO
North Sea oil services group Petrofac has announced that Ayman Asfari is retiring as group chief executive at the end of the year to focus on his family, health and charitable interests.
He will be replaced on 1 January by Sami Iskander who will join as deputy chief executive on 1 November. Mr Asfari will remain as a non-executive director.
Mr Iskander has over 30 years’ international experience in both oilfield services and E&P companies.
He is an Egyptian and French national, fluent in English, Arabic, Spanish and French and holds a Bachelor of Science in Mechanical Engineering from the American University in Cairo.
He was appointed executive vice president for Shell’s upstream joint ventures business in February 2016 until 2019, where he was accountable for business performance in Abu Dhabi, Brunei, Denmark, Egypt, Italy, Kazakhstan, Kuwait and Oman.
Chairman René Médori commented: “After nearly 40 years in the industry and 30 years with Petrofac, Ayman has decided the time has come to step back from his executive duties to focus on his family, health and charitable interests.
“The board has been planning for his retirement for some time and I am delighted that we have been able to attract a candidate of Sami Iskander’s calibre, who was identified following a comprehensive external and internal search process.
“He has an excellent industry pedigree both in international oilfield services and upstream E&P, a deep and local understanding of our markets and client landscape, and a proven track record in business transformation.
“Ayman’s contribution to Petrofac, as both its co-founder and group chief executive, has been extraordinary. Under his indefatigable stewardship Petrofac has grown into a leading international service provider to the energy industry, with an excellent track record of delivery for clients.”
Mr Asfari said: “I have been planning my retirement for a number of years after a long career at Petrofac and in the industry. There is never a perfect moment to step down, and it has been a difficult decision for me to make. However, I have decided now is the time to hand over the day-to-day running of the Company to fresh leadership.
“My decision has been made easier in the knowledge that we have a highly capable team, to whom I owe enormous gratitude, and a successor of excellent calibre, who shares Petrofac’s vision to be the preferred services partner to the energy industry and has the right skills to lead Petrofac through the next phase of its evolution.
“As a major shareholder I remain deeply invested in Petrofac’s future and I am confident of the group’s continued progress and success in the coming years.”
Mr Iskander said: “Petrofac is a truly outstanding company, with a best-in-class execution track record, a strong and differentiated competitive position in attractive core markets, and a growing new energies business.”
Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure.
Its core markets are in the Middle East and North Africa (MENA) region and the UK North Sea.