STAVANGER — While the global oil and gas industry seems to have plenty of innovation and new thinking to show off at ONS this year, there is a group of folks that thinks it is coming up short in one specific area and that would be fighting cybersecurity threats adequately.
In a morning conference session at ONS on Wednesday, a star-studded panel of experts assessed the threat posed to the industry by cyber attacks and what executives still need to do, beyond measures already in place, to address the problem thoroughly. Former Secretary of Homeland Security Michael Chertoff, who served under Former President George W. Bush from 2005 to 2009, led off the session. He set the table for the other speakers, when he said that “the costly and dynamic nature of cybersecurity threats makes them a top risk for many businesses,” particularly board directors and management. However, he says they often struggle with understanding and responding to the scope of these rapidly changing risks.
Chertoff pointed out that for most boards, cybersecurity is far from a core competency. They are not well-schooled in security measures and this lack of “fluency” can cause indecision or avoidance related to cybersecurity. Too often, executives may resign themselves to a mentality that attacks are unavoidable.
Source: World Oil
Published: July 2, 2020