THE DECISION-MAKING PROCESS IN THE OIL AND GAS INDUSTRY: THE CASE OF OMAN

THE DECISION-MAKING PROCESS IN THE OIL AND GAS INDUSTRY: THE CASE OF OMAN
Hafidh Al Naamani, Modern Collage of Business & Administrations, Oman

(Presented at the International Conference on Research in Education and Science (ICRES) which took place on April 27-30, 2024, in Antalya, TURKEY (https://www.2024.icres.net/) and at the International Conference on Education in Mathematics, Science and Technology (ICEMST) (https://www.2024.icemst.com/) organized by the International Society for Technology, Education and Science (ISTES) http://www.istes.org).

This study aims to explore –from the perspectives of the employees in the supply chain management at an oil and gas organization in the Sultanate of Oman – the extent to which data-driven insights, performance management, and collaboration in contract agreements improve the decision-making process. A pragmatic philosophy underpins the research design. A mixed methods case study approach involving surveys administered to 32 employees at the case organization was used for data collection. The survey includes nine questions aimed at collecting quantitative data. Descriptive statistics analysis is used for data analysis. Thematic analysis is used to analyze qualitative data and identify the frequent occurrence of phrases that reflect participants’ experiences concerning the decision-making process. The findings suggest that data-driven insights, performance management, and contractual collaboration improve the decision-making process in contracts in the oil and gas industry. Though the study is centralized in one of the oil and gas organizations in the Sultanate of Oman, which may jeopardize the generalizability of the findings, the study opens a new horizon of research in this field to validate in similar locations. The study provides insights, via the quantitative findings and participant's voice in improving decision-making processes. It highlights the critical role of integrating data-driven insights into operational decision-making, optimizing performance management systems to align with strategic goals, and overcoming challenges related to non-collaborative contracting approaches. The insights gained from this study are also useful to industry practitioners, policy-makers, and academic researchers. It gives them an understanding of the value of data-driven decision making, efficient performance management systems, and collaborative contract frameworks in enhancing operational efficiency and decision-making in oil and gas contracts