The first oil was pumped from the vast Catcher area project in the North Sea at the end of December.

The £1 billion-plus project lies 110 miles off the coast of Aberdeen.

Production will start at 10,000 barrels per day, increasing to 60,000 during the first half of 2018.

Tony Durrant, Premier Oil’s (www.premier-oil.com) chief executive, said: “Delivery of the first oil from the Catcher area is a significant milestone for Premier.

"As production ramps up, the increased cash-flow will play an important role in our plans for debt reduction.”