UPDATE 1-Apache, Inpex shut Australia Van Gogh oilfield

(Adds details on exports, Inpex shares)

SINGAPORE, Oct 19 (BestGrowthStock) – Apache Corp (APA.N: ) and Inpex
Corp (1605.T: ) have unexpectedly shut an oil production unit at
their Van Gogh oilfield offshore Western Australia for repairs,
industry sources said on Tuesday.

The Floating, Production, Storage and Offloading (FPSO)
vessel, Ningaloo Vision, has been shut indefinitely while
investigations are ongoing, a source familiar with the matter
said.

The companies are considering whether they will declare a
force majeure on supplies, he said.

Up to six 400,000-barrel cargoes of heavy sweet Van Gogh
crude scheduled to be loaded in October and November have been
delayed, the sources said, adding that the companies will not
be offering any cargoes for December.

One of the sources said exports may resume at end-December
or in January.

Tighter supplies may lift sentiment in the Asia Pacific for
Australian heavy sweet crude although fuel oil cracks remained
weak at around $7 a barrel discount to Dubai crude, traders
said.

Van Gogh, located 32 miles (53 km) north-northwest of
Exmouth, was expected to hit a peak production of 40,000
barrels per day (bpd).

Production at the field has been unstable lately with
exports down to around three lots in October from four in the
previous month, sources said.

Apache, the Van Gogh field operator, has a 52.5 percent
stake in the Van Gogh field with Inpex, Japan’s top oil
explorer, holding the remainder.

Inpex’s shares were down 1.2 percent at 0555 GMT on news of
the outage, while the mainboard Nikkei index (.N225: ) rose 0.4
percent.
(Reporting by Florence Tan and Osamu Tsukimori in TOKYO;
Editing by Ramthan Hussain)

UPDATE 1-Apache, Inpex shut Australia Van Gogh oilfield