Most Oil Companies Falling Behind in Cyber-Attack Preparedness



Most Oil Companies Falling Behind in Cyber-Attack Preparedness
Most oil and gas companies are falling behind when it comes to cyber-attack preparedness, according to a report from Deloitte.

Most oil and gas companies are falling behind when it comes to cyber-attack preparedness, according to a report from Deloitte.

“In the past few years, the oil and gas industry has seen the traditional boundaries between corporate IT and ICS (industrial control systems) largely disappear. Today, the evolution continues with the digitization of the oil and gas field,” the report, titled “An Integrated Approach to Combat Cyber Risk,” stated.

“As this interconnectedness marches on, so does the frequency and sophistication of cyber-attacks. However, most companies have not kept pace in terms of their preparedness,” the report added.

Whether a cyber breach is intentional or unintentional, the consequences can be grave, ranging from compromising confidential data to triggering system failure or shutdown, the report highlighted.

This can result in decreased revenue, reputational damage, environmental disaster, legal penalties, and in extreme cases, loss of life, Deloitte stated.

“The interest of cyber criminals in industrial operations has increased over the last decade resulting in cyberattacks that have compromised both production and safety,” Paul Zonneveld, global energy & resources risk advisory leader for Deloitte Canada, said in the report.

“These attacks have made cyber security a hot discussion topic in boardrooms around the world, and now, a growing number of organizations are developing large transformation programs to address these new operational threats,” he added.



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