Key Enterprise Processes | Hess Corporation
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Key Enterprise Processes

Several key processes in our company help to identify and mitigate risks in potential, new and existing operations; achieve operational excellence; and evaluate investment opportunities.

While these processes are focused on our operated assets, it is important to note that we also review potential risks and conduct assurance reviews for our nonoperated assets, which represent a significant portion of Hess’ capital spend. We generally prioritize four main objectives for reviews of nonoperated assets: making a positive contribution to local communities; influencing project outcomes by focusing on issues with the greatest potential impact; establishing governance structures and project assurance plans; and documenting and internally sharing high value lessons learned.

For a detailed description of our enterprise risk management, value assurance, due diligence and lean and innovation processes, please refer to our 2021 Sustainability Report. Reliability operations, described below, is a key enterprise process not described in our 2021 Sustainability Report.

Reliability Operations

Over the past six years, we have been implementing a companywide Reliability Operations model across our operated assets to help improve equipment reliability through a focused cultural shift that promotes greater ownership and proactive equipment maintenance.

To support this cultural shift, we developed reliability engineering processes in conjunction with asset level personnel to help ensure that processes are relevant to the specific challenges faced by each asset and support the needs of our colleagues in the field. We have also developed key performance indicators and internal dashboards focused on barrier integrity – a key area of reliability – to improve transparency, ownership and accountability.

In 2021, we continued to enhance the program using Lean principles to undertake detailed analyses of maintenance strategies and to improve performance and reliability through optimized scheduling. Through these reliability efforts, we believe we are maximizing efficiency, reliability, integrity and surveillance; optimizing production and costs; and driving continuous improvement, most importantly in environment, health and safety performance.