Thrive in a rapidly changing market
A leading global independent energy corporation, Hess knew that success in the rapidly changing oil and gas market would require transformation across the business—from building more efficient factories to creating the most value from the highest quality resources. Their desire to use digital transformation as a means of reducing costs, sharing data and intelligence, and considering altogether new ways of working led them to Deloitte's deep industry experience, broad strategic insight, and creative chops.
Implement digital initiatives like machine learning
While Hess had already seen successful internal pilots, working with Deloitte enabled them to rapidly scale their successes and promote adoption of a broader strategic vision. Together, we identified and piloted low-risk, high-value digital initiatives like machine learning to predict equipment failures and analytics to optimize drill plans. By enabling implementation in a matter of weeks, Hess was able to capitalize on immediate value to fund longer-term ambitions. We developed a portfolio of digital initiatives that could address market conditions, capitalize on Hess' core capabilities, and guide investment and strategic shift within their broader partner ecosystem.
A framework for long-term success
Taking an iterative approach to digital transformation, Deloitte delivered a framework that goes beyond the underpinning digital technology to help Hess win in the long game. This holistic solution is helping to rapidly stabilize Hess' market position and simultaneously identify them as industry experts. Our collaboration enabled Hess to be prepared for more disruption in an uncertain industry, with digital as a key part of their cultural transformation—in essence, a new way of working.