PAS stocks cyber security for the oil and gas sector

PAS, Inc., the leading solution provider of ICS cyber security, process safety, and asset reliability in the energy, power, and process industries, has announced record breaking growth across the company’s business units. The PAS Cyber security business unit grew the fastest with a 48% increase in orders year over year. PAS also continued to aggressively expand its customer base within oil and gas, petrochemical, and power industries.

Despite a challenging economic climate, companies continue to invest in solutions that address cyber security risk within the process control network layer. PAS Cyber Integrity™ addresses this risk by automating the inventory of both proprietary (OT) and non-proprietary (IT) control system assets and by managing change, patch, and compliance activities across these systems. Power and process industry customers see resulting gains in safety, security, and asset reliability from deploying PAS solutions.

PAS’ commitment to safety and cyber security was a significant contributor to its performance in 2015. Highlights of critical milestones include:

• Financial performance: PAS closed the year with the highest revenue in the history of the company and a 45% increase in operating income over 2014.
• Business updates: PAS launched its new cyber security business unit in May reflecting the company’s commitment to and ongoing investment in ICS cyber security.
• Product releases: PAS released Cyber Integrity 5.0 in November featuring closed loop patch management automation and enhanced compliance capabilities.
• Customer milestone: The PAS customer base eclipsed the 900 mark – an 8% growth rate that includes new cyber security customers in the oil and gas, petrochemical, power, and nuclear industries.

PAS solutions are regarded as mission critical and deployed enterprise wide within many global industrial companies. PAS blue chip global clients include nine of the top 15 largest power companies, 14 of the top 15 largest chemical companies, and 12 of the top 15 largest refining companies. In support of its expanding customer base, PAS grew headcount by 16% in 2015 and expects additional growth of 20% in 2016. A privately held company, PAS is headquartered in Houston, Texas with regional offices in Australia, Bahrain, Canada, Qatar, Singapore, South Africa, and the UK.

“Our customers are keenly interested in protecting their ICS assets from internal and external cyber threats to safety and security,” says Eddie Habibi, PAS Founder and CEO. “With the number of cyber incidents on the rise, industrial companies depend on PAS solutions to detect unauthorised activity deep within the proprietary control systems, which IT-based tools fail to identify. We are proud of our achievements in 2015, not only within cyber security, but also our traditional businesses of alarm management and high performance HMI. Last year was a momentum building year for us, and we are eager to make even greater strides providing value for our customers in 2016.”

Adapted from press release by Francesca Brindle

Read the article online at: https://www.hydrocarbonengineering.com/refining/08022016/pas-sees-record-growth-on-the-back-of-cyber-security-concerns-2411/