After more than a year of negotiations, state oil and gas firm Pertamina expects to complete its acquisition of an operating interest in Iran’s Mansouri oilfield this month. With its finances in better order, Pertamina is also venturing further offshore.

Pertamina will have a 30% interest in the field, with another 20% to be held by an Iranian partner, and the remainder to be allocated for other potential partners. The block is expected to produce about 300,000 barrels oil per day (bpd).

The company had officially submitted a proposal on two Iranian development fields Ab-Teymour and Mansouri oilfield to the National Iranian Oil Company earlier this year. Both fields have been expected to contain reserves of more than five million barrels.