Fox-IT Research: 60% of Companies in Oil and Gas Industry Cannot Respond Effectively to Cyber Security Incidents

Companies in the oil and gas industry are aware that they need to take security measures against cyber threats such as hacktivism and Advanced Persistent Threats (APT’s), but the majority has not yet taken decisive action to guard themselves. This is the most important outcome of the report ‘Is Your Company’s Cyber Security Actually Good Enough?’, presented by Fox-IT, founding partner of HSD.

One of the biggest concerns of companies in the oil and gas industry is hacktivism. When asked how confident companies are that their current defence mechanisms can adequately handle or detect hacktivism, 37 percent indicates they are ‘not confident’ and 45 percent is ‘somewhat confident’. Only 11 percent is fully confident that they can handle hacks appropriately. Another important result is that 49 percent of the oil and gas companies estimate the costs of recovering from a cyber-attack at somewhere between 500.000 and 1.000.000 Euro. Still, a staggering 23 percent indicates that they are not actively monitoring their network and that 19 percent have not segregated their Information Technology network (IT) from their Operational Technology network (OT). These are all necessary measures to aid in the prevention against cyber threats.

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