Cyber-attacks cost companies worldwide an estimated $300-400 billion each year in unanticipated downtime and that number is projected to increase sharply. Some large industrial organizations estimate their cost of downtime in the millions of dollars per hour. When a plant shuts down unexpectedly, it takes 3 to 4 days to get everything started up again. These are sobering business continuity-related lost revenue numbers.
The more connected nature of oil & gas operations, driven in large part by the Industrial Internet of Things (IIoT) and related digitalisation trends, although beneficial to bottom lines, introduces an element of cyber-risk that should be addressed. In fact, inaction is not an option. Cybersecurity is now a cost of doing business. The question is, what is the optimal approach?
By Philippe Carle
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