MOUNTAIN
VIEW, Calif. /PRNewswire/ -- The oil and gas industry
is defined by capital intensive equipment and distributed assets
that produce high-volume data streams which are essential to
provide an uninterrupted supply of energy. As the concept of
digital oilfields grows, technologies like control systems on the
go and big data will become more prominent and the previously
isolated and insecure networks will now be integrated into the
business networks exposing these critical networks to cybersecurity
vulnerabilities. These factors are amplifying the importance of
cybersecurity.
Recent
analysis from Frost & Sullivan, Cybersecurity in the US Oil
and Gas Industry (http://www.frost.com/nf09),
finds that the proportion of the annual budget spent on
cybersecurity ranged from 5 to 10 percent in 2014. This is expected
to double within the next two to three years. Implementation will
depend on the oil and gas industry's
capability to suitably integrate
the IT and operational
technology (OT) worlds.
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Most
oil and gas companies have a plethora of architectures across
real-time operations and rely on layered security as the main
design protocol. However, these architectures are often designed
according to local practices or dictated by vendor preferences.
With a majority of the drilling and production rigs located in
remote areas, especially in the offshore fields, cybersecurity is a
key concern in the digitalized oil and gas industry. Protection of
company assets and shareholder value coupled with the imminent
implications of advanced persistent threats are the factors driving
implementation of cybersecurity.
"Offshore platforms are primary targets from an economic and
political perspective and cybersecurity solutions will have to be
seamlessly integrated into these systems without causing
disruptions or delays," said Frost & Sullivan Industrial
Automation & Process Control Senior Research
Analyst Sonia
Francisco. "Digital oilfields require cybersecurity
solutions that can maintain the reliability of data as well as
determine its accuracy."
However, the lack of a cybersecurity-focused workforce, the
existence of multiple networks and disparate communication
channels, and diversified assets make it difficult to identify a
network boundary. Furthermore, endpoint security is complex to
manage without disrupting applications, especially while using
remote access services. Low awareness on available solutions,
insufficient priority given to cybersecurity risks and the fact
that a majority of the regulations in the oil and gas industry are
voluntary has encouraged some players to put off investing in
cybersecurity solutions.
Nevertheless, the industry at large is looking to protect its
assets. Cybersecurity vendors will initially have to take a hybrid
approach, which incorporates both siloed and integrated security.
As such, managed security services and cybersecurity contractors
will be important, especially for smaller companies that are
looking to outsource for greater cost effectiveness.
"Tools
such as risk management, network segmentation, change control,
2-factor authentication and security intelligence will not only
identify anomalies and assess the risk potential of the network,
but also create value for the user,"
noted Francisco. "As oil and gas companies
gradually take a standardized and centralized approach to
cybersecurity, a single solution platform that can be customized to
meet user needs will be in demand."
Cybersecurity in the US Oil and Gas
Industry is part of the Industrial
Automation & Process Control(http://www.industrialautomation.frost.com)
Growth Partnership Service program. Frost & Sullivan's related
studies include: Global PD Pumps Factbook, Global Pump Trends—The
Chemical Industry, Global Human Machine Interface Market, and
Emerging Upstarts and Market Transitions in the Global Digital
Oilfield Data Management Market. All studies included in
subscriptions provide detailed market opportunities and industry
trends evaluated following extensive interviews with market
participants.
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Cybersecurity in the US Oil and Gas
Industry
NF09-10
Contact:
Jaylon
Brinkley
Corporate Communications – North
America
P: +1 (210) 247.2481
F: +1 (210) 348.1003
E: [email protected]
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