Abu Dhabi working on new projects to upgrade petroleum industries

Abu Dhabi announced that it is trying to attract foreign investments to the petroleum and gas sectors to finance development operations at a cost of $1 billion.

Abu Dhabi established a company last week with a capital of $4 billion for petroleum projects, in which foreign and private sector companies in the United Arab Emirates will contribute.

Abu Dhabi national's company for petroleum, Advok, which is working with the Abu Dhabi Trade and Industrial chamber in regulating the eighth International Abu Dhabi Conference and Fair for Petroleum, "ADEBEK98," said the fair will allow the ratification of new accords between international petroleum companies and national companies for petroleum.