Finance & Business

Oct 13 2017

Petroleum Engineer Salary #master #degree #in #petroleum #engineering


Petroleum Engineer Salary

Job Description for Petroleum Engineer

Petroleum engineers design and oversee the production and methods for retrieving oil and natural gas from various depths beneath the earth’s surface. Most petroleum engineers work for oil companies. Others work at universities or research facilities.

Some of these engineers work in the field and help prospecting teams make recommendations on drilling sites based upon the cost, effort and feasibility of retrieving the product from where it is discovered. When a site is selected, these engineers will test the drilling samples and decide which is the safest method for retrieving the oil or gas. In some cases, oil will be under pressure and will rise to the surface without help from the engineer. In other cases, the oil will have to be pumped to the surface.

Another task of petroleum engineers is to design the drilling, pumping, prospecting, and storage equipment that get the job done. These people often work in research and development facilities or colleges, universities and trade schools.

Other petroleum engineers work at drilling sites. These engineers oversee the building and operation of subterranean drills, oil derricks, and other necessary equipment. Once the well is established, they will look for methods that will improve oil and gas production. If necessary, they will design or modify tools or offer technical advice that will help achieve satisfactory economic progress. Engineers in this aspect of their field will usually spend a lot of time working outdoors. They might even work at sea on drilling platforms or specialized drilling ships.

Petroleum engineers design, maintain and build oil pipelines. They may also be employed by oil storage facilities.

Petroleum Engineer Tasks

  • Devise methods to improve oil and gas well production and determine the need for new or modified tool designs.
  • Oversee drilling and offer technical advice to achieve economical and satisfactory progress.

Petroleum Engineer Job Listings

Popular Employer Salaries for Petroleum Engineer

Chevron Corporation, ConocoPhillips Company, EOG Resources, Inc. Occidental Petroleum Corporation, and BHP Billiton are top-notch employers for Petroleum Engineers in this area. Anadarko Petroleum Corp offers the highest compensation with a median salary of $185K. Those in search of high salaries should also consider BHP Billiton, Occidental Petroleum Corporation, and Baker Hughes Inc, top-paying firms where Petroleum Engineers rake in a massive $163K, $147K, or $135K, respectively.

ExxonMobil Corporation, Weatherford International, Inc, and British Petroleum (BP) also rank near the bottom for pay, handing out $100K, $108K, and $121K-paychecks on average.

Popular Skills for Petroleum Engineer

This chart shows the most popular skills for this job and what effect each skill has on pay.

Survey results imply that Petroleum Engineers deploy a substantial tool kit of skills at work. Most notably, skills in Project Management, Petroleum Engineering, Simulation, and Engineering Design are correlated to pay that is above average, with boosts between 14 percent and 17 percent. Those listing Data Analysis as a skill should be prepared for drastically lower pay. For most people, competency in Reservoir Engineering indicates knowledge of Oil and Gas Formation Evaluation and Drilling Engineering. Most people skilled in Well Production Engineering are similarly competent in Drilling Engineering and Oil and Gas Formation Evaluation.

Pay by Experience Level for Petroleum Engineer

Pay by Experience for a Petroleum Engineer has a positive trend. An entry-level Petroleum Engineer with less than 5 years of experience can expect to earn an average total compensation of $97,000 based on 542 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Petroleum Engineer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $120,000 based on 201 salaries. An experienced Petroleum Engineer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $140,000 based on 131 salaries. A Petroleum Engineer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $177,000 based on 98 salaries.

Pay Difference by Location

Surpassing the national average by 29 percent, Petroleum Engineers in Farmington receive some of the highest pay in the country. Petroleum Engineers can also look forward to large paychecks in cities like Bakersfield (+25 percent), Denver (+23 percent), Los Angeles (+19 percent), and New Orleans (+17 percent). Location significantly influences compensation, with Texas City Petroleum Engineers earning much less β€” 23 percent less β€” than the national average. Employers in Fort Worth and San Antonio also lean toward paying below-median salaries (9 percent lower and 5 percent lower, respectively).

Petroleum Engineer Reviews

Q: What is it like working as a Petroleum Engineer?

Petroleum Engineer in Fort Worth:

Pros: The town and the people. It has been a great place to live and work.

Cons: The worst part about Fort Worth is how hot it gets in the summer.

Petroleum Engineer in Midland:

Petroleum Engineering is for the relentless puzzle solver.

Pros: There is always a new obstacle, problem, or puzzle to solve. Success is dependent on team execution, and people skills are just as – or even more – important than technical skills. The industry is fascinating and dynamic, and technological advancement keeps the job fresh and exciting.

Cons: The phone is always ringing. The oilfield doesn t stop for you to sleep. Oil prices dictate employment opportunities, and end a lot of them.

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