PREMIER Oil chief executive Tony Durrant saw his total remuneration increase by 35 per cent last year, when the company reduced pre-tax losses to $390.6 million (£285m) from $829.6m in the preceding period helped by cost-cutting. London-based Premier’s annual report shows Mr Durrant earned total remuneration of £1.4 million in 2016, compared with £1.04m in 2015. His bonus increased to £378,400 from £56,900. Premier limited the bonuses paid to executive directors to 10 per cent of salary in 2015 following the collapse in oil prices. The company achieved record output in 2016 helped by the $120m acquisition of E.ON’s UK upstream portfolio and made good progress with the Catcher development east of Aberdeen. It started production from the giant Solan field off Shetland in April following delays. North Sea operating costs fell to $24 per barrel oil equivalent from $30/boe.
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