With companies and delegates from around the world KPC and EQUATE to hold Kuwait's 1st Industrial Automation Security Conference
Kuwait, May 18, 2014 -- Kuwait Petroleum Corporation (KPC) & Subsidiaries and EQUATE Petrochemical Company held today a press conference to announce their partnership in launching the First Kuwait Industrial Automation & Control Systems Cyber Security Conference (KIACS Cyber Security Conference 2014).
Held under the patronage of His Excellency Dr. Ali Al-Omair, Minister of Oil, State Minister for National Assembly Affairs and KPC Board Chairman, the conference will take place on May 25 and 26 at the Salwa Al-Sabah Ballroom.
More than 85 local, regional & international companies were invited and over 200 executives and professionals are expected to attend the conference, which will address key matters relevant to industrial control systems (ICS) in the energy sectors of oil, gas and petrochemicals to increase awareness, share knowledge, counter threats, address arising challenges and other relevant topics.
During the press conference, Kuwait National Petroleum Company (KNPC) Deputy CEO for Support Services and Chairman of IT Steering Committee in the Oil Sector Khaled Al-Asousi said, "With the global value of security systems for ICS reaching over USD 600 million in 2013, having the proper understanding and strategy to tackle such a matter on a global scale is a necessity, especially that oil, gas and petrochemical industries greatly rely on such systems. Many of us have heard about cyber security issues, and this conference deals specifically with ICS, which constitutes 8-10% of the total cost of any project relevant to oil, gas and petrochemicals. Hence, a project that costs USD 1 billion would have no less than USD 80-100 million allocated just for its ICS. With that in mind, it is a great pleasure that KPC & Subsidiaries have joined efforts with EQUATE to launch this first of its kind forum in the country, something which we hope would continue on annual basis in Kuwait."
On his part, EQUATE Vice President for Technical Services Mohammad Al Benali said, "This conference is not about common IT matters of laptops, mobiles and similar systems, it is relevant to the critical infrastructure in the industries of oil, gas and petrochemicals where over 20 international experts will discuss key issues relevant to the security of ICS. As many nations greatly rely on such industries as main sources for income, it is essential to acknowledge the importance of ICS, where over 200 cyber-intrusions on ICS of companies around the globe are being detected every quarter. To better understand of the significance of ICS, if an industrial plant makes an annual net profit of USD 1 billion, having its ICS stop for a week due to a cyber-attack would lead to losing over USD 19 million of these profits. Simply put, when it comes to security relevant to ICS, all precautions must be taken as a cyber-attack can happen to anyone, so 'An ounce of prevention is worth a pound of cure'. Through this conference, we aspire this effort by EQUATE in partnership with KPC & Subsidiaries would constitute a forum that would play a positive role to truly manifest 'Partners in Success' within and outside Kuwait."
The two-day conference will include panel discussions, expert presentations and specialized workshops with the participation of several senior officials and professionals from around the world. The conference will also include an exhibition where top technology and cyber security firms from around the world will be presenting the latest advances in devices and software.