The oil and gas (O&G) field is the most sought-after industry in the Gulf Cooperation Countries (GCCs) and holds significant importance in the region’s economy. Therefore, this sector requires various industrial electrical, and electronics equipment (EEE) products to perform multiple tasks throughout the upstream, downstream, and midstream segments. However, as these EEE products approach their end of life (EoL), the sector faces the challenge of managing failed units. As a result, replacing or recycling failed EEE products can contribute to the growing problem of electronic waste (e-waste), which can have severe environmental consequences. In addition, while some EEE products can be repaired or remanufactured with low reliability, many others cannot be fixed due to various technical reasons. This paper’s primary goal is to propose a circular economy strategy and sustainable practices that promote the longevity of industrial EoL electronic products in the O&G sector through remanufacturing. We introduced and implemented a new mathematical score, the Index Of Repairability (IOR), which aims to assess the ease of EEE repairability in the O&G sector and improve their lifespan and durability based on four criteria: design, spare parts availability, software access, and documentation. This novel mathematical metric leverages the analytic hierarchy process (AHP) and set theory. Additionally, original equipment manufacturers (OEMs) can adopt and benefit from this innovative IOR by incorporating eco-design principles and designing more easily repairable industrial products for technicians, thereby reducing the negative impact of e-waste, enhancing stakeholder satisfaction, and minimizing downtime. Furthermore, governmental organizations can implement regulations and incentives to advocate for and mandate the use of the IOR by OEMs, ensuring that the electronics industry prioritizes repairability, remanufacturing, and sustainability.