180K a Month for Heritage CEO

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By Sue-Ann Wayow

THE new Chief Executive Officer of state-owned Heritage Petroleum Company Ltd Erik Keskula is set to receive a base salary of $180,000 per month.

This was revealed by Prime Minister Dr Keith Rowley on Wednesday in Parliament.

Keskula’s cash benefits will also consist of a relocation allowance of 7% which is $12,600 monthly and a completion bonus of $180,000 payable at the end of his six-month probation.


Non-cash benefits consist of a housing value of up to approximately US $5000 per month, a company vehicle maintained by Heritage with a driver during the probationary period and subsequently, a vehicle purchased up to the value of $700,000.

Dr Rowley said, “Utilities to be supported by the company, a return airfare to his home country at the end for employee and spouse, international medical insurance for employee, spouse and two dependents, international life insurance for the employee only and 20 working days per annum of vacation.”

He added, “There is an annual bonus arrangement that is to be discussed.”


Keskula was announced as the new CEO by Heritage Chairman Michael Quamina on Monday.

He will be serving as CEO designate for the period June 1 to June 13 and will resume full responsibility when current CEO Arlene Chow retires from the company on June 13.

Dr Rowley’s information was revealed during the Prime Minister’s Questions segment when he was asked to state the terms and conditions of the new Chief Executive Officer of Heritage Petroleum Company Limited by Member of Parliament for Caroni Central Arnold Ram.


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