State-owned Abu Dhabi Basic Industries Corporation (Adbic) is finalising plans for a $800 million joint project to make oil and gas pipes, its chief executive said.

Adbic is hoping to form a joint venture to make the key equipment for global energy companies in a bid to reduce the emirates' heavy reliance on oil exports.

"We are in negotiations with partners. It will be a majority Adbic project in Abu Dhabi," Jamal Al Dhaheri said at a conference, but declined to give details.

Adbic is wholly-owned by the Abu Dhabi government's General Holdings Corporation, which is investing billions of dollars in industry, tourism and infrastructure as it diversifies its economy away from oil. - Reuters