Unraveling the Success Story of Ayman Asfari: The Driving Force of Petrofac
Ayman Asfari is a notable figure in the oil and gas industry. Born in July 1958, Asfari’s life trajectory has led him to establish himself as a reputed business magnate. He is best recognized as the founder and former CEO of the prominent oilfield services company, Petrofac.
Key Takeaways
- Ayman Asfari, born in July 1958, is renowned as the founder and former CEO of Petrofac, a leading service provider in the oil and gas industry.
- Asfari initiated his career in the field of civil construction before co-founding Petrofac International in 1991.
- Petrofac, under Asfari’s leadership, grew into a global entity with 31 offices worldwide and 11,500 employees, generating considerable revenues and profits.
- Asfari’s philanthropic endeavors are reflected in the establishment of The Asfari Foundation, a charity focused on education, civil society promotion, and humanitarian aid.
- Asfari’s estimated net worth is around US$ 1 billion, underscoring his significant financial success.
- He is the owner of the Lammouche Yacht.
Early Life and Career Beginnings
Asfari’s journey to prominence began in the realm of civil construction. With an academic background in engineering, he kick-started his career as an engineer, gradually elevating his role to become the managing director of a construction group based in Oman. Displaying remarkable tenacity and business acumen, Asfari took a monumental step in 1991 when he co-founded Petrofac International. What started as a modest engineering office eventually burgeoned into a major player in the oil and gas sector.
Petrofac: A Dominant Force in the Oil and Gas Industry
Under Asfari’s stewardship, Petrofac witnessed substantial growth. Presently, the company boasts a robust global presence with 31 offices worldwide and a dedicated workforce of 11,500 employees. In the financial year of 2019, Petrofac recorded an impressive revenue of USD 5.5 billion and a net profit of USD 270 million.
As the majority stakeholder, Asfari owns 18.2% of Petrofac. This significant ownership resulted in considerable financial gains for Asfari, with dividends amounting to over USD 40 million in 2014 alone. In the subsequent years, Asfari’s annual dividends averaged around $25 million.
Philanthropic Ventures: The Asfari Foundation
Recognizing the transformative power of education, Asfari founded the Asfari Foundation in 2006. This UK-registered charity is dedicated to providing educational opportunities to young individuals. Additionally, it funds initiatives aimed at bolstering civil society and offers much-needed humanitarian aid in times of crises.
Ayman Asfari’s Net Worth
Asfari’s successful ventures in the oil and gas industry, combined with his strategic investments, have contributed to a significant accumulation of wealth. As a testament to his financial success, Asfari’s estimated net worth stands at a remarkable US$ 1 billion.
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