GOGIP hosts upstream oil and gas insurance seminar to build local capacity

By Elliot WILLIAMS

The Ghana Oil and Gas Insurance Pool (GOGIP), the consortium of 21 local insurance and reinsurance companies, which is the exclusively mandated vehicle for insuring activities, assets and liabilities of the country’s upstream oil and gas industry, held a three-day upstream energy insurance seminar. The event,  started on August 4 and closed on August 6 in Accra.

Themed “Enhancing Industry Expertise” the seminar is a strategic initiative of GOGIP, aimed at deepening capacity in upstream, construction and operational energy insurance in Ghana. It has brought together 50 delegates from across Ghana’s insurance ecosystem comprising 26 representatives from insurance and reinsurance companies, 18 from insurance brokerages, regulators from the National Insurance Commission and the Petroleum Commission, with the rest being drawn from insured entities including ENI Ghana and Ghana National Petroleum Corporation, GNPC.

The seminar’s timing is most fitting, in the light of the recent confirmation of a new commercial discovery in ENI Ghana’s OCTP Block 4, the development of the Pecan Field project under the auspices of Pecan Energies in the Deepwater Tano Cape Three Points block and the renewed expression of interest in Ghana’s upstream oil and gas industry by major international oil companies.

“This seminar reflects GOGIP’s commitment to building a technically sound and globally competitive insurance industry in Ghana” asserted Kwabena Larbi, Head of Pool at GOGIP. “We are proud to have created a platform that not only delivers knowledge but also fosters collaboration among key stakeholders.”

Participants are exploring a wide range of topics including: Global and domestic energy insurance market trends; Upstream and downstream risk management; Construction insurance frameworks such as WELCAR 2001; Power insurance and loss of revenue considerations; and regulatory developments and market relationships.

The Special Guests are Dr Abiba Zakariah, Insurance Commissioner, Seth Aklatsi and James Agyenim-Boateng all Board members of GOGIP, Victoria Emeafa Hardcastle.  Dr Zakariah gave the opening address. Speakers at the seminar include David Sharp, CEO and Founder of Serica Practice; Esther Armah, Head of Market Conduct Supervision at the NIC; Kwaku Boateng, Director, Economics & Local Content at the Petroleum Commission; Mark Moore, Head of Energy at Tysers Insurance Brokers; Rotimi Odeniran, Director, Energy & Construction at Tysers Insurance Brokers; and Teniola Tijani, Underwriter at IQUW, a distinguished specialist international reinsurer from the Lloyds of London. The seminar is also featuring contributions from ENI Ghana.

WAICA Re, a regional reinsurance titan has played a key role as a sponsor of the event, as has IQUW. The seminar is powered by Tysers, a leading Lloyds of London broker whose expertise and support was instrumental in shaping the event’s content.

Beyond the technical sessions, the seminar provided ample opportunities for networking, including a cocktail reception on the opening day, sponsored by WAICA Re. These interactions have helped strengthen relationships across the insurance value chain and encouraged dialogue on future collaboration.

“This has been one of the most insightful seminars I have attended” said a delegate from a leading insurance company.” The depth of content and the caliber of facilitators were exceptional.”

Looking ahead, GOGIP plans to build on the momentum created by the seminar, by exploring additional training modules and technical workshops in 2026. Already, the Pool’s leadership is setting a benchmark for industry excellence and reinforcing Ghana’s readiness to support the next phase of energy sector growth.

Established in 2009, following Ghana’s first oil discovery – the Jubilee field – GOGIP is the exclusive vehicle mandated to provide insurance for all assets and liabilities related to exploration, appraisal, development, production and decommissioning in Ghana’s upstream oil and gas sector. The Pool plays a crucial role for production insurance for oil companies and contractors operating in Ghana and, by pooling the capacities of its 21-member insurance and reinsurance companies saves the country from huge foreign exchange outflows which would otherwise have gone to larger capacity foreign insurers.

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