Pertamina hopes to close Myanmar exploration deal by July ?03

State oil and gas company Pertamina said on Tuesday it was in negotiation with Myanmar exploration authority to complete acquisition of an exploration block.

?We hope to complete deal to acquire M89 offshore exploration block by the end of June next year,? Pertamina president Baihaki Hakim said.

Baihaki said the block was gas-prone.

Pertamina had been venturing into overseas exploration deal, by acquiring exploration acreages in Iraq, Vietnam and is the final process of participating in Sawarak?s exploration block, in the Malaysian part of Borneo Island. (alex)