Cyber Security within the oil and gas industry is a threat that is, in many cases, being ignored. It has a direct effect in the creation of government regulation and legislation, can have deep financial impact and – in some cases – can even cost lives.
The 2014 Verizon Data Breach report states that 40% of the attacks performed in the manufacturing and mining industry are cyber espionage based. A UK survey revealed that 81% of large companies were digitally attacked, at an average cost of £1 million per company. Similarly, 62 per cent of small and medium-sized enterprises (SMEs) were digitally attacked in 2014 at an average cost of more than £100,000 per incident.
Cyber 9-11 is coming, and it’s a “when” and not “if” scenario. It is debatable whether anybody can be totally prepared for an event of such magnitude, but our research has shown that the oil and gas industry is unfortunately often unprepared in its basic prevention and mitigation abilities.
Eventually, even your company will be a target and the cost of unpreparedness could be crippling.
In this 15 page Oil & Gas IQ report we examine the current state of Oil and Gas Cyber Security and the mammoth price of not being prepared.