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Tue 2 Nov 2010 05:14 PM

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UAE's ADNOC sees $60bn oil, gas spend over 5 years

Abu Dhabi National Oil Co has no immediate plans for project tenders - official

UAE's ADNOC sees $60bn oil, gas spend over 5 years

Abu Dhabi National Oil Co (ADNOC) plans investment of $60bn in the next five years in oil and gas development but has no immediate plans for project tenders, an official said on Tuesday.

"We plans to invest $60 billion in the next five years," Abdulla Nasser Al Suwaidi told Reuters on the sidelines of an industry conference in United Arab Emirates capital Abu Dhabi.

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