Oil services firm Petrofac has secured a share in two deals, worth a combined $687 million (£449.4m), in Abu Dhabi.
The firm said its Petrofac Emirates joint venture, which is 51 per cent owned by the gulf state’s investment and development company, will carry out onshore engineering and construction work at the Bab field for the Abu Dhabi Company for Onshore Oil Operations (Adco).
Petrofac said: “To extend our portfolio with Adco, who are a very important customer for us, is particularly pleasing and continues to reinforce our position in the Middle East.”
Duddy’s pay soars despite profit slide
Home Retail Group chief executive Terry Duddy saw his total pay soar more than 40 per cent last year, despite overseeing a slide in profits at the owner of Argos and Homebase.
The firm’s annual report showed that Duddy’s bonus leapt to £662,000, from £217,000 a year earlier, while his salary edged up to £838,000.
Duddy, who has opted to take his bonus in deferred shares, earned £1.56 million in pay and perks during the year to the start of March, up from £1.1m previously. The retailer posted a 10 per cent decline in pre-tax profits to £91m for the year.
Cala appoints chairs for regional groups
Housebuilder Cala Group has named Graham Cunningham and Kevin Whitaker as regional chairmen as the group targets “significant growth in the most affluent areas of the UK” following recent investment.
Cunningham will focus on the Edinburgh firm’s “significant” growth plans in the south of England as well as developing the strategy for its 2,000-home Barton Farm site in Winchester. Whitaker will retain responsibility for east Scotland including Aberdeen and take responsibility for west Scotland. Cala Homes builds some 875 properties each year.
Metro Bank to open doors to 19th site
Metro Bank is opening a branch in Ealing, West London, marking its 19th outlet since its launch just three years ago.
The fledgling high street bank is planning further openings, in Milton Keynes and central London, and is aiming for up to 200 branches by 2020.
Metro Bank’s dog-friendly “stores” promise extended and weekend opening hours, on-the-spot replacement card services and safe deposit boxes. Last month, the bank opened its first drive-thru facility, in Slough. Some 170,000 personal and business customers have joined Metro Bank since 2010.