SELECT SUBSTR(FIELD1,
INSTR(FIELD1, '|', 1, ROWNUM) + 1,
INSTR(FIELD1, '|', 1, ROWNUM + 1) -
INSTR(FIELD1, '|', 1, ROWNUM) - 1) AS FIELD2
FROM (SELECT '|' || 'a|bbb|cccc|ddddd|ee|d|a' || '|' AS FIELD1 FROM DUAL)
CONNECT BY INSTR(FIELD1, '|', 2, ROWNUM) > 0;