JAKARTA (RambuEnergy.com) – Oil and gas, as well as refiners, are beginning to embrace digital technologies. Such investment will allow the sector to weather cyber attacks in the future, according to recent survey of Accenture.
The recent Accenture Disruptability Index pinpointed the energy industry as the most susceptible to future disruption, the survey shows.
The survey result was presented to Indonesian media on July 31 by Neneng Goenadi as Country Managing Director, Accenture Indonesia as well as Mark Teoh, Managing Director – Resources Operating Group of Accenture.
“Increased and tactical digital investment can better enable the efficiency and performance improvements to help refiners weather the storm. There are signs refiners have realized this and are taking action to capture these benefits,” Mark Teoh said.
Rising number of cyber attacks requires greater investment to bolster cyber defences With a growing number of cyber attacks, there comes the associated need to constantly upgrade cybersecurity resilience and response.
Indeed, 28 percent of respondents said they are seeing more or significantly more cyber attacks than last year. Most worryingly, at a time when operations are becoming increasingly connected and exposed to these kinds of threat, one-third (33 percent) of respondents said they don’t know how many attacks they are experiencing.
The need becomes more pressing considering that 38 percent of respondents said they see data security as a barrier to adopting digital technologies in their organization. Among the risks respondents most often associated with cybersecurity are operational impact (67 percent), impact on workforce health and safety (39 percent) and data breaches (39 percent).
However, only 28 percent of executives cited digital tools to improve cybersecurity in one of their top three priority areas for investment in digital technologies. Respondents were more concerned about how lack of digital investment will affect their competitiveness (cited by over 67 percent), how digital can support cost reduction and improve their margins (64 percent) and how weak digital investment might affect their operational reliability (58 percent).
“With the increased exposure and risk from ever-greater connectivity of digital technologies comes a need to invest to stay at least a step ahead of the growing threat,” who leads the cybersecurity practice within the company’s Resources operating group,” Neneng Goenadi as Country Managing Director, Accenture Indonesia said.
“In order to do that investing now in fundamental security capabilities will be crucial to safeguarding future operations,” she noted.
The online survey was conducted in March 2018 by PennEnergy Research in partnership with the Oil and Gas Journal. The survey was developed with HSB Solomon Associates LLC, a benchmarking and global advisory services company for the global energy industry.
Respondents are subscribers to PennWell publications and comprised 169 refining industry professionals across 48 countries, including executive and
mid-level management, business unit heads, engineers and project managers from a cross-segment of the industry.