Thursday, January 17, 2013

REPOST: Critical facilities security 'top priority' in oil and gas markets

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This article talks about the importance of structural security in oil production facilities.

 Frost & Sullivan's latest market report suggests the perceived vulnerability of oil and gas infrastructures worldwide continues to drive investment in security.

The security of critical facilities remains the uppermost priority for the global oil and gas industry. Escalating demand for oil and gas, the construction of new facilities and physical and cyber threats to these installations have led to growth in the oil and gas infrastructure security market.

New analysis from Frost & Sullivan, published in a report entitled: 'Global Oil and Gas Infrastructure Security Market Assessment', finds that the market earned revenues of $18.31 billion in 2011 with estimates suggesting this figure will reach $31.27 billion in 2021.

However, the potential vulnerability of oil and gas infrastructures to various threats – both physical and cyber – is a matter of great concern for operators. That concern is causing them to invest heavily in security.

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Driving the requirement for security solutions

“Global oil and gas companies are investing capital in new infrastructure projects, driving the need for security solutions at these facilities,” noted Frost & Sullivan's aerospace, defence and security senior research analyst Anshul Sharma. “With increasing awareness of threats, companies are adopting a security-risk management approach and implementing risk assessment of their facilities to ensure security Return on Investment (ROI).”

There's a growing preference for total solutions, it seems, with the flexible integration of individual security systems like access control, video surveillance and intrusion detection on one platform.

Heavy investments in cyber security are also projected due to various attacks on energy facilities in the past five years.

“The threats may vary from information theft to a terrorist attack, but the economic impact and financial damage in case of an attack will be much more significant,” explained Sharma. “It would also depend on the motive of the attacker. For example, a cyber attack to remotely control a SCADA system can have more serious consequences than a cyber attack to steal information.”

The cost of advanced security technologies, the lack of resources for managing security, compliance and operations, and low spending on cyber security threaten market prospects.

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Design of integrated security provision

“Suppliers of security systems should aim at designing an integrated security solution that proactively identifies, assesses and mitigates risks and threats originating from within the facility as well as from well beyond it,” advised Sharma.

“For their part, oil and gas companies and the operators of critical oil and gas facilities need to complete a thorough threat and risk assessment of their facility to ensure there is no overspending or underspending on security-related matters.”

This Dr. Ali Ghalambor Facebook page offers diverse information about the oil and gas sector.

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