In light of Europe’s shift towards greener energy sources, the markets for oil and gas in Oman are insulated from the global trend. Despite the push for renewable energy, the demand for oil and gas remains steadfast, supporting vital sectors such as plastics, textiles, and electronics among others. Developing nations such as India are also undergoing significant focus on increasing production due to high oil prices, reflecting a global trend.
Oman, being heavily reliant on oil and gas, cannot simply abandon these resources. They need to sustain and even boost production to meet both domestic needs and export demands, as it’s a vital source of income for the country. Consequently, Oman will likely continue investing in the development of oil fields, expanding drilling activities, and enhancing production capabilities to maintain its position in the global energy market.
Contributing to the development of the sector, entrepreneurs emerge as linchpins, driving innovation and adaptability within the industry. Among these visionary entrepreneurs stands Dr. Salim Al Shanfari, whose journey into the market commenced with the establishment of Atakamul Aldhahabiya Oil and Gas, where he initially served as a shareholder. Amidst the challenges of the global pandemic, he strategically shifted the company’s focus to the oil and gas sector, positioning it for success in a competitive market.
From HR Executive to CEO
Dr. Salim’s ascent from an HR executive to reaching the helm of an oil and gas firm epitomizes a remarkable transformation. It all began with his diverse upbringing, influenced by his father’s diplomatic career, which exposed him to various cultures and environments.
Equipped with a bachelor’s degree, Dr. Salim delved into Oman’s dynamic market, particularly the oil and gas sector, recognizing its promising prospects and appealing salaries. Embracing these opportunities, he embarked on a career trajectory with multinational giants like Weatherford International, Schlumberger, and KCA Deutag, refining his skills and accumulating invaluable HR expertise.
“Throughout my career, I had the privilege of engaging with technical employees, directors, and operation managers, which provided me with a comprehensive understanding of business operations from different perspectives,” says Dr. Salim. Alongside his corporate roles, he co-founded an oil and gas organization, where he currently serves as CEO, leveraging his experience to navigate the competitive market landscape and drive the company’s success.
Navigating Challenges & Seizing Opp- ortunities
During the company’s inception, Dr. Salim was one of the shareholders, while others predominantly managed operations, focusing primarily on chemical supply rather than the oil and gas sector. In 2021, amidst the challenges posed by the global COVID-19 pandemic, Dr. Salim identified opportunities for expansion into the oil and gas market.
Recognizing that entering an industry during turbulent times often presents unique prospects, he took decisive action by noticing gaps in the market left by departing competitors and seizing the opportune moment to fill them. This transition wasn’t without hurdles, including the need to adapt to a new sector, establish credibility, and scale operations to meet industry demands.
However, through strategic planning and determination, Dr. Salim successfully navigated these obstacles, positioning Atakamul Aldhahabiya Oil and Gas for success in the fiercely competitive oil and gas market.
Comprehensive Services and Capabilities
Established on a solid foundation of expertise and experience, the company has evolved into a trusted provider of seamless services tailored to meet the diverse needs of the industry. Since its inception, the company has strategically expanded its offerings, specializing in drilling services, logistics, manpower supply, EPCC projects, OEM spare supply, electro-mechanical works, civil/earthwork, construction and maintenance of tanks, chemical supply, and pipeline/ flowline construction.
Academic Research & Leadership Philosophy
Dr. Salim’s blend of academic research and leadership philosophy holds particular relevance in the oil and gas sector. By aligning educational strategies with industry needs, Dr. Salim ensures that individuals entering the sector possess the requisite skills and mindset to excel in demanding work environments.
Holding a PhD in Human Resources, his research delved into the global challenge of education-employment mismatch, focusing particularly on miners in Oman. His findings underscore the need for aligning education with market demands, advocating for early identification of students’ skills and alignment with industry requirements from early education stages. Dr. Salim’s insights highlight the critical role of educational alignment in fostering career success and organizational efficiency.
As a leader, Dr. Salim emphasizes the paramount importance of understanding human behavior, recognizing it as the backbone of operational success. His advocacy for proficient people management stems from firsthand experience, driving organizational growth and facilitating advancement. He believes that proficiency in managing people, particularly in executive roles, not only accelerates organizational growth but also facilitates advancement to the next level by leveraging the collective talents and strengths of the workforce. “Without a grasp of people’s behaviors and attitudes, essential tasks like missionary work or drilling would stagnate. Recognizing the significance of this understanding adds value to the working environment, fostering a culture of collaboration and efficiency,” says Dr. Salim.
Looking Ahead: A Global Vision
Originating from humble roots in Muscat, Oman, the company has meticulously cultivated a reputation as a reliable and trusted service provider within its specialized domains. Through the strategic optimization of performance and efficiency across its assets, the company has embraced a lean business model, ensuring the delivery of cost-effective, high-quality solutions to its clientele.
The vision is to expand internationally & we’ve already made significant strides in that direction. Currently, we operate in Oman & India & we’ve established a presence in Indonesia & Libya
Looking ahead, Atakamul Aldhahabiya Oil and Gas envisions far beyond national borders, aiming to establish a robust international presence. “With ongoing operations in Oman and India, alongside a burgeoning footprint in Indonesia, we are making significant strides towards global expansion,” says Dr. Salim. Recent contract acquisitions in Indonesia and Libya underscore the firm’s growing international reach and strategic market penetration. By strategically targeting markets with untapped potential, especially in drilling sites, Atakamul Aldhahabiya Oil and Gas aims to secure a significant market share and foster continued growth. “With plans already underway to expand into Malaysia and beyond, the ultimate goal is to establish a comprehensive global footprint in the oil and gas industry across various regions worldwide,” he further adds.
Additionally, the company plans to improve its warehouses and expand its skilled local workforce, hiring engineers with specialized expertise. It also intends to diversify its product range and utilize its strengths to reach new markets, focusing on solving clients’ problems. Actively seeking partnerships regionally and internationally, it aims to meet Oman’s technical needs effectively.
Guidance for Aspiring Entrepreneurs
“Now is an opportune moment to venture into the oil and gas market,” says Dr. Salim. With oil prices currently peaking, there exists a favorable window for new entrants to capitalize on this trend. The high demand and limited supply dynamics indicate a promising outlook, with little indication of a decrease in oil prices in the foreseeable future. Moreover, the oil and gas sector has experienced minimal growth over the past decade, presenting ample opportunities for newcomers to exploit the existing demand-supply dynamics. However, aspiring entrepreneurs must exercise caution and thorough planning when entering this complex market. While the potential rewards are substantial, navigating the industry’s intricacies requires a strategic approach to mitigate risks effectively.
As Atakamul Aldhahabiya Oil and Gas continues to expand its international footprint, Dr. Salim’s global vision and commitment to excellence serve as guiding principles for aspiring entrepreneurs venturing into the dynamic landscape of the oil and gas sector. With strategic foresight, meticulous planning, and a focus on understanding market dynamics, new entrants can leverage the current market trends to carve out a significant niche and contribute to the industry’s evolution and development.
We use cookies to ensure you get the best experience on our website. Read more...
.jpg "Technology in Cancer Care: A story of evolving paradigms")
.jpg "Bringing Shop Floor to Manufacturer's palm: Smart Factory Solutions for tomorrow")
