UAE planning massive investment in oil sector

Published December 5th, 2005 - 12:41 GMT
Al Bawaba
Al Bawaba

Al-Khaleej newspaper has recently provided data on investments directed to the United Arab Emirates' oil industry during the period from 2000 to 2006.

 

According to the report, these investments came to $8 billion during 2000-2004. The country is planning to produce 3.5 million barrels of oil daily in 2006, a production increase of 0.7%. For this purpose, the UAE is about to invest some $10 billion.