Amid a heightened state of alert, executives from 11 major oil and natural gas corporations met last Thursday outside of Washington, DC, to form an information sharing and analysis center (ISAC) to address industry- and company-specific security risks and threats.

The 11-member founding board approved the legal structure of ISAC, its membership rules and signed an agreement with Reston, VA-based Predictive Systems, which will provide the analysis center structure and monitor the oil and gas industry for physical and electronic threats and risks, said John Guy, deputy executive director of the National Petroleum Council (NPC). “It’s now open for business.”

A proposal to form an industry-run and controlled ISAC was made in a report that the NPC board approved in June, “Securing Oil and Natural Gas Infrastructures in the New Economy.” While the idea had considerable support then, Guy noted that it has gained significant momentum in the wake of the Sept. 11 terrorist strikes.

He envisions ISAC eventually becoming a “one-stop shopping” center for oil and gas companies to send and receive advisories about security risks and problems, as well as address solutions. Companies would send information through secure Internet transmissions and would be alerted by Predictive Systems to potential threats — day or night — by telephone beepers.

The ISAC group, Guy said, will be open to the “whole gamut” of oil and gas companies, including drillers, service companies, pipelines, marketers, local distribution companies and refiners. Oil and gas trade associations can join as associate members. He would not disclose what it will cost to be a member of ISAC. But he said company costs for a similar system for the financial community ranged from an initial $13,000 up to $100,000.

The 11 ISAC board members include representatives from Anadarko Petroleum, BP, ChevronTexaco, Conoco Inc., Duke Energy, El Paso Corp., Enron Corp., Halliburton Co., Peoples Energy, Phillips Petroleum and Shell Oil.

For further information, companies should visit ISAC’s web site at www.energyisac.com.

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