* Itochu selling stakes in two oilfields, infrastructure
* Process run by Scotiabank could raise $250 mln - bankers
By Ron Bousso and Clara Denina
LONDON, June 12 (Reuters) - Japanese commodity trading houseItochu is seeking buyers for stakes in two North Seaoilfields, a pipeline and a terminal, a document seen by Reutersshows.
The sale, run by Scotiabank, could fetch up to $250million, according to banking sources.
The transaction would mark the latest exit of along-standing player in the ageing basin as a new generation ofcompanies, many with the backing of private equity, seeks toinject new life into oil and gas fields.
Itochu, through its British subsidiary CIECO UK, is offeringto sell its 23 percent stake in the Western Isles field clusterin the northern North Sea, located some 160 km (100 miles) eastof the Shetland islands.
The field, which is operated by British group Dana Petroleum, started production in November 2017 and yielded45,000 barrels of oil per day in April 2018, according to thesale brochure.
Itochu is also selling a 26 percent stake in the Hudsonfield and small stakes in the Brent System Pipeline and theSullom Voe Terminal.
Bids are due by midday London time on June 27, the documentshowed.
Itochu and Scotiabank did not respond to requests forcomment.
Itochu recently agreed to buy a 20 percent stake in theIraqi West Qurna 1 oilfield from Royal Dutch Shell,signalling that the Japanese firm is turning its attention tonew regions. It entered the North Sea in the early 1990s.
The sale does not include CIECO's 12 percent stake in theVerbier discovery, operated by Norway's Equinor.(Editing by Dale Hudson)
