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Hess to sell stake in Scottish oilfield to Shell
May 30, 2012 / 1:27 PM / 5 years ago

Hess to sell stake in Scottish oilfield to Shell

(Reuters) - Oil producer and refiner Hess Corp (HES.N) said it is selling its stake in an oilfield off the Scottish coast to Royal Dutch Shell Plc (RDSa.L).

Financial terms were not disclosed.

Hess will sell its 15.67 percent stake in the Schiehallion field, as well its stake in a related pipeline system.

The Schiehallion field, operated by BP Plc (BP.L), is located north of Scotland in the Atlantic Ocean. The companies gained approval from the British government to begin drilling there in 1996.

Reporting By Ernest Scheyder; Editing by Gerald E. McCormick

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