Hess Sells Natural Gas Assets in UK North Sea

Hess will sell its interests in a package of natural gas production and transportation assets in the UK North Sea to Scottish & Southern Energy. Once the sale is completed in the third quarter of 2010, Scottish & Southern will assume ownership of interests in the Everest and Lomond natural gas fields, and the Central Area Transmission System in the central North Sea, along with the Bacton Corridor and Easington Catchment Area natural gas fields in the Southern North Sea. For a sum of $423 million, the sale is subject to governmental and partner approvals.

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