The Uganda Insurers Association (UIA), in partnership with the Insurance Consortium for Oil and Gas Uganda (ICOGU), proudly participated as sponsors of the 11th Annual Oil & Gas Convention (OGC), held on 28th – 29th April, 2026 at Speke Resort Munyonyo under the theme, “First Oil: Fulfilling the Promise, Forging the Future.”
The two-day convention brought together government leaders, policymakers, industry experts, investors and key stakeholders from Uganda’s oil and gas sector to reflect on the country’s progress toward First Oil and discuss strategies for ensuring long-term sustainability and growth within the industry.
Representing both UIA and ICOGU, the Chief Executive Officer of the Uganda Insurers Association and Secretary of the ICOGU Technical Committee, Mr. Jonan Kisakye, delivered a compelling address on Uganda’s transition from exploration to production.
Speaking during the convention while chairing the session on “Opening New Blocks in the Albertine Graben,” Mr. Kisakye highlighted the significance of Uganda’s journey toward First Oil, describing it as a critical milestone in the country’s energy development agenda.
“Uganda is steadily transitioning from years of exploration, planning, and infrastructure development into the operational phase of its oil and gas industry. However, First Oil should not be viewed as the final destination, but rather as the beginning of a new chapter that requires sustained investment, strong institutions, and strategic partnerships,” Mr. Kisakye noted.
He emphasized that as Uganda enters the production phase, attention must be directed toward maintaining operational excellence, attracting long-term investment, strengthening local participation, and building a resilient oil and gas sector capable of delivering lasting economic benefits for generations to come.
Mr. Kisakye also highlighted the important role played by the insurance industry in supporting Uganda’s energy ambitions through the Insurance Consortium for Oil and Gas Uganda (ICOGU). He noted that significant strides have been made in enhancing local underwriting capacity, increasing risk retention within Uganda, and reducing the outflow of insurance premiums to foreign markets.
“Through ICOGU, the insurance industry has demonstrated its readiness to support large-scale energy projects while ensuring that a greater share of premiums is retained within the country. This not only strengthens our financial sector but also contributes to national economic growth and positions Uganda as a competitive player in the global energy landscape,” he said.
A major highlight of the convention was the official launch of the National Petroleum Policy 2025 by the Deputy Speaker of Parliament, Thomas Tayebwa. The launch marked a significant milestone in Uganda’s petroleum sector development and was witnessed by key stakeholders from the Petroleum Authority of Uganda and the Uganda National Oil Company.
Addressing delegates at the convention, Minister for Energy and Mineral Development, Ruth Nankabirwa Ssentamu, reaffirmed the government’s commitment to ensuring that Uganda’s oil and gas resources drive sustainable national development.
She noted that Uganda’s oil and gas sector has successfully moved from the promise stage to execution, with flagship projects including Tilenga, Kingfisher, and the East African Crude Oil Pipeline (EACOP) making steady progress toward the country’s First Oil target.
The Minister highlighted government investments in strategic infrastructure such as roads, industrial parks, and Kabalega International Airport, all of which are intended to support oil and gas operations while creating broader economic opportunities for Ugandans.
She further emphasized the importance of local content development, regulatory preparedness, environmental stewardship, and human capital development as essential pillars for the sector’s success.
“Our focus remains on ensuring that Uganda’s petroleum resources become a catalyst for industrialization, job creation, skills development, and long-term economic transformation. Responsible resource development must remain at the center of our efforts as we prepare for First Oil and beyond,” she said.
The convention served as a valuable platform for dialogue and collaboration among industry stakeholders, reinforcing the shared commitment to unlocking the full potential of Uganda’s petroleum resources while creating sustainable value for the country and its citizens.
As Uganda advances toward First Oil, the Uganda Insurers Association and ICOGU remain committed to supporting the sector through innovative insurance solutions, strengthened local capacity, and strategic partnerships that contribute to the growth, resilience, and competitiveness of Uganda’s energy industry.
