Managing and Responding to Advanced Cyber Risks in the Oil and Gas Industry

Managing and Responding to Advanced Cyber Risks in the Oil and Gas Industry
To protect the integrity and safety of their business-critical assets, cybersecurity must be a top priority for the oil and gas industry. Although they operate some of the nation’s most critical systems, securing these complex infrastructures can be a huge challenge.In recent years, the oil and gas industry has undergone a complete digital overhaul. Historically, industrial control systems were completely detached from their traditional IT infrastructure. However, due to rapid digitisation and the growth of mobile technology, almost every machine is now connected to the internet. Although this advancement enables engineers to remotely maintain machines and analyse production data, it also exposes industrial machinery to network vulnerabilities.While this digital evolution has greatly improved operational efficiency through analytics, big data and the ability to automate sensitive tasks, it also introduces a whole host of cyber-risks that need to be mitigated. Firms are often faced with a dangerous patchwork of old and new technology. Unfortunately, because these legacy systems were built in a previous technological era, they are simply not designed to be resilient against cyber-threats.The convoluted process of refining oil involves many different industrial control systems and machines. This means there are multiple gateways for hackers to exploit to gain access to their internal network. A successful security breach could bring an oil and gas firm to a complete halt. Last year, Petrofac was hit by a cyber-attack which resulted in the complete shutdown of their servers and critical systems. Because they are completely dependent on digital technology, disrupting these services could result in financial loss, reputational damage and the loss of critical data.Like in most industries, the most common cause of a breach is human error. Malicious attacks can easily spread by clicking on a phishing link or inserting a rogue memory stick into a co ..

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