A high - level meeting between the Permanent Secretary of Ministry of Energy and Mineral Development Ms. Irene Batebe and the Insurance Consortium of Oil and Gas Uganda (ICOGU) technical team led by chairperson Mr. Paul Kavuma brought to light key issues and opportunities within the oil, gas, and mining industries. The discussions highlighted the evolving role of insurance in safeguarding these critical sectors as Uganda progresses towards becoming a regional energy hub.

The meeting focused on updates regarding insurance coverage in the oil and gas industries, with a spotlight on the challenges encountered, including the low participation in Marine insurance, a vital component of the sector. Addressing these hurdles is seen as essential to enhancing risk management and supporting the growth of Uganda’s energy sector.

National content commitments were also on the agenda, as stakeholders acknowledged the importance of ensuring that local participation and capacity-building are prioritized within the oil and gas value chain. The discussion explored the need for ICOGU’s expanded role, particularly in facilitating insurance aspects of the ongoing refinery project.

A significant portion of the meeting was devoted to the necessity of reviewing and updating laws to ensure they adequately accommodate insurance in this evolving sector. In addition, the potential for growth in the mining industry was highlighted, with an emphasis on supporting ICOGU in building capacity and providing specialized skills to meet industry demands.

These discussions are a step forward in ensuring that Uganda’s growing energy and mining industries are well-protected and resilient, with insurance playing a central role in their sustainable development.