How Much Does a Petroleum Engineer Earn

 

How Much Does a Petroleum Engineer Earn

• According to the U.S. Bureau of Labor Statistics (BLS), the average salary of a Petroleum Engineer is $114,080 per year.

• The 2010 National Association of Colleges and Employers survey showed petroleum engineers as the highest paid 2011 graduates at an average $80,849 annual salary.

• The Society of Petroleum Engineers' 2010 survey included advanced degrees and found the U.S. median salary at $158,557, with the mean at $199,248.

The largest group is with the Society of Petroleum Engineers (SPE). This organization publishes substantial amounts of information on the industry. Additionally, there is the American Institute of Mining, Metallurgical, and Petroleum Engineers that represents over 150,000 engineers worldwide.

Reservoir engineers optimize production with proper well placement and enhanced recovery techniques. Drilling engineers oversee the technical aspects of drilling exploration, production, and injection wells. Production and subsurface engineers direct connections between reservoirs and wells, overseeing downhole monitoring equipment and flow control, sand control, and perforations.

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