Aramco, Siemens Energy and the World Economic Forum launch a report on cyber resilience in the oil & gas industry
Aramco, Siemens Energy and the World Economic Forum (WEF) have launched a co-lead report on Cyber Resilience in the oil and gas industry. The report, “Cyber Resilience in the Oil and Gas Industry Playbook”, establishes a blueprint for boards and business leaders to evaluate cyber risk and enhance cyber resilience across the industry.
More than 40 senior executives from the oil and gas industry contributed by identifying cyber resilience best practices and offered new solutions that will help board directors mitigate cyber threats, protect supply chains and improve overall security in the sector. The playbook sets out six principles to help the oil and gas companies advance their approach to cybersecurity, and complements the World Economic Forum’s ten broader cyber resilience principles which apply to all organizations.
The six principles of cyber-resilience for the oil and gas industry:
- Cyber-resilience governance
- Resilience by design
- Corporate responsibility for cyber resilience
- Holistic risk management approach
- Ecosystem-wide collaboration
- Ecosystem-wide cyber-resilience plans
Basim Al-Ruwaii, Chief Information Security Officer at Aramco said, “As a founding partner of the WEF Center for Cybersecurity, Aramco is proud to have collaborated with the World Economic Forum and business leaders from across the oil and gas sector to create this playbook, which aims to set the industry standard for improving cyber resilience. Establishing and aligning cybersecurity practices across the industry enhances our collective resilience efforts and allows us to present a united front against cybercrime and other critical security threats.”
Georges de Moura, Head of Industry Solutions, Centre for Cybersecurity, World Economic Forum said, “The Oil & Gas industry has developed a strong track record of safety, resilience and security practices for physical threats and must integrate cyber risks into this culture. This playbook will help business leaders in the industry embrace a risk-informed cybersecurity approach to ensure a secure and resilient Oil & Gas ecosystem.”
Leo Simonovich, VP and Global Head, Industrial Cyber, Siemens Energy said, “Digitization is empowering the oil and gas sector to become ever more efficient, resilient and reliable — but it also opened vast new vulnerabilities to cyberattack. More than ever, cybersecurity has to be at the core of companies’ business models and operations, especially in the oil and gas industry. Effective defense depends on robust monitoring and detection — which means companies cannot act alone. Coordination and alignment is crucial; this latest playbook, drawing on insights from leaders across the oil and gas sector, reflects these efforts.”
This program is one of the WEF Center for Cybersecurity’s ongoing activities to shape the future of cybersecurity and digital trust. Aramco is a founding member of the center, which promotes global collaboration and leads global initiatives across various sectors within the cybersecurity industry.
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