Abu Dhabi's oil firm Adnoc raises basic salaries by 20%

OIL MAJOR: Adnoc manages the production of over 2.7 million barrels of oil per day. (Getty Images)

The National Oil Company (Adnoc) of Abu Dhabi has hiked its employees’ base salary by 20 percent, according to an internal memorandum, UAE daily The National reported on Saturday.

The increase is nearly twice the rate of inflation, which stood at 11.1 last year, but condiderably less than the rest of the public sector received earlier this year.

Effective at the beginning of this month, the pay rise was "based on a study of the remuneration market in the UAE and the Gulf Region and the need for ADNOC to maintain a more-competitiive position to become an 'employer of choice' locally and regionally," the paper quoted the memorandum as saying.

It was signed by Yousef Omair bin Yousef, Adnoc's chief executive, it added.

A spokesman for Adnoc declined to comment, but the authenticity of the memo was confirmed by another employee, who declined to be named, the paper said.

Under the new compensation scheme, the maximum monthly basic income for national executives was increased to 102,530 dirhams ($27,000). If the maximum general and housing allowances are added, the maximum total take-home pay for the highest executive level rises to 205,674 dirhams per month, it said.

The highest basic salary including supplements for a national employee below executive level was 63,280 dirhams. The maximum basic salary including supplements for the same job held by an expatriate was raised to 47,790 dirhams a month, the paper said thememo showed.

These figures do not include housing and general allowances, which can reach 62,229 dirhams for nationals and 31,472 dirhams for expatriates for that level of employee, it added.

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