Oil company’s five directors see pay shoot up by £2.3m

Executive pay at Tullow Oil shot up by nearly £2.3m (€2.8m) last year on the back of the Irish-founded exploration company’s second consecutive year of record financial and operational growth.

The London-headquartered company paid its five executive directors a combined £7.72m last year compared to just under £5.44m the previous year.

Aidan Heavey — Tullow’s chief executive — saw his total package go from £1.67m to over £2.36m. His basic salary rose from £679,450 to £815,340, while his cash bonus grew from £509,588 to £611,505. There was also a healthy rise in his pension contribution, while the value of his share bonus went from £273,138 to over £693,000.