Executives Confident Of Information Security Practices

November 2011, Vol. 238 No. 11

PwC US has released a new report entitled, “Eye of the Storm,” which provides findings on information security for the oil and gas industry, based on survey responses from 143 senior industry executives. PwC found that despite data exploitation being up across the board, executives remain confident in their security practices as they have a set strategy in place.

According to PwC, 46% of O&G companies say they have a security strategy in place and are proactively executing it. The survey found that 77% of respondents believe their practices are effective.

PwC disclosed that 59% of respondents say information security spending in O&G will increase over the year. According to 52% of respondents, Advanced Persistent Threats (APT) are driving the spending. However, very few reported having key capabilities in place to manage this new threat – such as virus protection, intrusion detection systems and either signature-based or memory-based APT solutions.
Other key findings include:
* 25% of oil and gas executives surveyed reported no security events in the past year.
· 47% of respondents said that hackers are the source for most security incidents.
· 47% of respondents said they have a strategy for mobile device security.
· 38% of oil and gas executives said that the leading security risk to cloud computing is an uncertain ability to enforce provider security policies.

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