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