Pertamina close to seal C. Java exploration deal with Petronas, PetroVietnam

State oil and gas company Pertamina said on Tuesday it hoped to be able to complete administrative paper works that holding the formation of joint venture with Petronas and PetroVietnam to explore Pertamina's oil block in Central Java.

"There is a delay in the directorate general of oil and gas, but we are hopeful to be able to complete joint venture arrangement within one or two months," said Iin Arifin Takhyan, Pertamina's upstream director.

Iin said both Petronas and PetroVietnam had evaluated prospectivity of Kendal exploration block, which is located onshore Central Java and had agreed to participate in the joint venture.

The three companies had earlier formed joint venture to explore for oil in Vietnam and plan to do so in Indonesia and Malaysia. (alex)