New Delhi: How can an enterprise protect its assets in a deeply connected and technology-driven world? Enabling industries through technology is a double-edged sword. Increasing use of technology improves efficiency, helps perform tasks that were only possible theoretically, and enables enterprises to grow at a speed the market demands. The oil and gas industry has traditionally transformed at a mammoth pace. It brought with it the perils of mass infrastructure and brought individual processes and machinery onto a common platform. Add to this the high risk of monetary penalties and costs involved with downtime, and you have a deadly cocktail of flammable vital resource, quite literally, waiting to explode.
But all is not lost. The oil & gas industry has slowly but surely embraced technological transformation. Connected refineries, retail stores, fuel reserves, and command centers, they built them all. The bigger question is, however, the way such an enterprise can protect its vital assets.
A three-pronged approach of governance, risk management, and controls is the answer. Unlike a modern retail chain, oil & gas assets still need to migrate to modern systems without disruption in…
