Oman's Ministry of Energy and Minerals has launched a new initiative to develop integrated digital supply chain solutions for the energy sector, aiming to improve procurement, contract management and spending efficiency across an industry with annual supply contracts exceeding RO4 billion ($10.4 billion).

The project, unveiled during its inaugural meeting chaired by Undersecretary Mohsen Hamad Al Hadrami, will be led by Petroleum Development Oman (PDO) before expanding to other energy companies and government entities.

The sector currently manages more than 6,000 suppliers and contractors and issues over 600 tenders each year.

The digital platform will enhance transparency, governance, data analytics and risk management while using artificial intelligence to generate operational insights and support decision-making.

It will also track local content, strengthen opportunities for Omani businesses and pave the way for a digital marketplace for sector suppliers.

The initiative supports Oman Vision 2040 by boosting competitiveness, digital transformation and national economic development. -OGN/TradeArabia News Service