ConocoPhillips targets $50 bln of free cash flow over next decade

Nov 19 (Reuters) - ConocoPhillips unveiled its 10-year plan on Tuesday and said it would target free cash flow of about $50 billion with annual capital expenditures averaging less than $7 billion over the next decade.

The largest U.S. independent crude producer also forecast annual production growth averaging more than 3% and said it expects to spend about $20 billion on dividends and $30 billion in share buybacks in 10 years. (Reporting by Arathy S Nair in Bengaluru; Editing by Shounak Dasgupta)