Aabar, which recently de-listed from the Abu Dhabi Securities Market (ADX), is looking at two infrastructure investments in Europe valued at between 500 million and 1 billion euros, Khadem Al-Qubaisi told the Financial Times.

Aabar is also considering buying a “small stake” in a blue-chip telecoms company in Europe or the United States that could be worth 1.95 billion euros, he told the paper.

International Petroleum Investment Company (IPIC), the parent company of Aabar, considered buying up to 10 percent of BP after the then chief executive Tony Hayward made an approach, he said, but IPIC backed off after the UK oil company made clear it wanted investors to buy shares in the open market.

Aabar’s assets have grown to $13 billion and are expected to touch $15-$16 billion by end of next year with new deals, he said.

Officials at Aabar were not available for comment on Monday.