Sale of 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 (Apache 52.501 percent and INPEX 47.499 percent). 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.