Seeking to address the threats emerging out of the rising incidents of hacking, defacing of websites and cyber attacks, the Petroleum and Natural Gas Minister, Veerappa Moily on Monday said his Ministry had created a joint working Group (JWG) under the Deputy National Security Advisors (DNSA) to put in place preventive measures and safeguards in cyber security field.

Delivering the inaugural address at the ASSOCHAM-WICS organised event on “IT and Cyber Security Summit and Exhibition on Oil & Gas Industry’’, Mr, Moily said the JWG will formulate an action plan on cyber security for the oil and gas sector to promote greater awareness among all stakeholders and encourage collaborative efforts to achieve the desired results.

Mr. Moily called upon the oil and gas industry to review their current process and procedures to achieve higher targets within the allocated resources. “At the same time, they should ensure that their information infrastructure, digital data and communication networks are well protected from the prying eyes of business rivals, terrorist and other cyber criminals,’’ he added.

The Petroleum Minister said the oil and gas sector has also not remained untouched by ICT revolution, but some recent developments like big data analytics, cloud computing, easy availability of super computing machines and high speed telecommunication facilities could bring about even more transformational changes in the oil and gas industry.

Dr. Jim Noble, former Chief IT Strategy Officer, BP and chief architect, Cyber Security Integrators (CSI) said every major company is facing significant compromise of its private data. In US, almost every single one of fortune 100 companies has been materially compromised. ``The board of directors, audit committees and the executives of their companies have to make sure that they properly manage and these risks are properly mitigated, that’s the challenge,’’ he added.

The conference was also addressed by Dr. Vivek Lall, member Joint Working Group on Cyber Security under National Security Advisor and CEO and president, Reliance New Ventures and Babulal Jain, chairman WICS.

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