The Insurance Consortium for Oil and Gas Uganda (ICOGU) held its Annual General Meeting (AGM) on 13th June, 2024 at Paraa Safari Lodge - Murchison Falls National Park. This crucial assembly brought together the leadership & members of ICOGU to discuss progress, benchmark from similar successful pools, set future directions & reinforce stakeholder collaboration.
ICOGU’s Chairman, Technical Committee - Paul Kavuma lauded the consortium’s strides & growth trajectory. He commended the members for their steadfast adherence to ICOGU’s principles and their collective efforts under the guidance of the Consortium Leader. Kavuma underscored ICOGU’s dedication to self-regulation, pro-activeness in seeking regulatory advice from the Insurance Regulatory Authority (IRA) and its success in establishing comprehensive frameworks through stakeholder engagement with support from the UIA Secretariat.
Central to Kavuma's remarks was the recognition of the Ghana Oil and Gas Insurance Pool (GOGIP) as a benchmark for ICOGU, showcasing the importance of local content and calling for a reassessment of current structures to boost operational efficiency in Oil & Gas ventures.
Participants delved into discussions on sustainability & technological progress that affect the oil and gas market. This sharing of insights and experiences reinforced ICOGU’s position as a front runner in advocating for the oil & gas industry best practices & standards.
To conclude the AGM on a memorable note, ICOGU members enjoyed a game ride through the magnificent landscapes of Murchison Falls National Park. This excursion not only offered a moment of relaxation and amity but also underscored the importance of preserving natural environments amidst rapid industrial development.
