Hess Corp said it has agreed to sell its interest in the Beryl area fields in the North Sea and the Scottish Area Gas Evacuation System to Royal Dutch Shell for $525m (£327m).

The Beryl fields, located northeast of Aberdeen and operated by Apache Corp, produced about 14,000 barrels of oil equivalent per day net to Hess through the first nine months of 2012, the company said.

Subject to regulatory approval, the sale is expected to be finalised in the first quarter of 2013.

“This sale is part of our strategic portfolio reshaping,” said Greg Hill, Hess Corp’s president, worldwide exploration & production.

Including today’s deal, Hess has announced asset sales so far this year of about $2.4bn.