Australia: Apache Energy Buys FPSO Ningaloo Vision

A subsidiary of Apache Energy Limited has agreed to purchase the FPSO Ningaloo Vision for USD 185 million on behalf of the Van Gogh field joint venture partners.

The unit is sold on an “as is where is” basis. Ningaloo Vision is operating on the Van Gogh oil field offshore Australia. BW Offshore will operate the FPSO for a period of up to six months on a cost-plus-basis before final handover.

Van Gogh is Apache’s first field development utilizing a floating production, storage and offloading (FPSO) vessel. The Ningaloo Vision FPSO has capacity to process 150,000 barrels of liquids per day, including 63,000 barrels of oil per day, and store 540,000 barrels of oil.

[mappress]
World Maritime News Staff, January 10, 2012