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14-01-14

Abu Dhabi welcomes international firms to invest in its oilfields

(MENAFN) A number of international firms have shown interest in investing in Abu Dhabi's largest oilfields as the emirate plans to strengthen its partnership with Western oil giants, according to Gulf Daily News. The emirate also plans to allow big Asian buyers to take stakes in its oil business. Abu Dhabi National Oil Company (ADNOC) is now completely responsible for the biggest oilfields in the UAE as its old venture with four of the world's largest oil companies ended on January 11. A number of companies whose participation has expired have also shown interest in the new project.