AMERADA Hess is to take a 50% interest in two blocks in the Moray

Firth in return for carrying out exploration and appraisal work for

Texaco over the next three years.

Blocks 14/20b and 15/16b, 110 miles north-east of Aberdeen, were

awarded to Texaco in the fourth licensing round in 1972.

A spokesman said: ''Both companies have extensive interests in this

area of the UK continental shelf.

''The pooling of experience and knowledge of the geology of this area,

coupled with the increased range of possible development options

provided by the extensive infrastructure in which our companies hold

interests, provides a real opportunity to enhance the value of this

acreage.

''We believe the strengthening of ties between Amerada Hess and Texaco

will add weight to continuing efforts to improve commercial and

operational effectiveness in the Outer Moray Firth.''