AMERADA HESS BUYS UNOCAL'S U.K. ASSETS

Amerada Hess Ltd. (AHL) has purchased Unocal U.K. Ltd. assets for "nominal consideration" as Unocal Corp. continues to restructure its worldwide exploration and production interests to focus on cash generation. The deal brought AHL 80% of the U.K. offshore exploration acreage of Unocal, consisting of 21 North Sea blocks, 18 of which will be operated by AHL. Although Unocal discussed a sale with oil companies, AHL eventually bought the assets because some licenses fitted well with its current

Jan 12th, 1993
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