JAKARTA: Indonesia state oil company Pertamina said on

JAKARTA: Indonesia state oil company Pertamina said on
Wednesday it was not aware of any steps yet by independent
geothermal firm Karaha Bodas to seize assets worth $261 million,
and would contest Karaha on the issue.

"Not yet," Pertamina president director Baihaki Hakim told
reporters when asked whether he was aware of Karaha following
through on a statement it would begin seizing Pertamina assets
around the world in execution of a $261 million arbitration
award.

"What I know is we will continue to fight on this issue. There
will be a hearing on March 15 at which Pertamina and the
(Indonesia) finance ministry will be represented," he said.

Pertamina signed an agreement with Karaha Bodas to develop
geothermal energy in 1994, but the government suspended the
project in 1998 following the regional economic crisis, which hit
Pertamina especially hard. -- Reuters