Tullow Oil aims to sell oil and gas interests in Britain to concentrate on further exploration and appraisal activities in Africa and the Indian sub- continent.

Chief executive, Mr Aidan Heavey told shareholders at the Tullow annual general meeting in Dublin yesterday that the company's British onshore oil and gas assets were not "a core area".

During the meeting, one shareholder criticised the level of dividend paid and described last year's 38 per cent increase in the fees paid to executive directors as "smacking of greed".