Abu Dhabi National Insurance Company (ADNIC) has renewed its Memorandum of Understanding (MoU) with Schlumberger Group to continue providing insurance and reinsurance coverage for the company’s regional oil and gas operations, reported Zawya.

Trade Arabia quoted ADNIC CEO, Ahmad Idris, as saying that “Schlumberger has complex risk management needs, which ADNIC is able to provide due to its operational and underwriting capabilities”.

ADNIC is a leading regional multi-line insurance provider for both corporations and individuals. Schlumberger Group is the world’s leading company in supplying technology, integrated project management, and information solutions in the petroleum sector. ADNIC has provided the company with insurance capacity for the past 19 years.