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What is a typical salary structure of an average Petroleum Engineer?

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RE: What is a typical salary structure of an average Petroleum Engineer?

Rahul Shinde
Rahul Shinde
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Career Consultant at Pinnacle School of Business Management
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Hi,


Greeting's for the day!!!

Despite the fact that petroleum engineering is an attractive and high paying career option, not much information is available on it. Typically, a petroleum engineering graduate is given to job to discover the natural sources of oil and examine the same. Similarly, developing the latest machines and equipments which can be used in the extraction and processing of oil is part of the job of a petroleum engineer. Petroleum engineers have global career and are hired by global oil companies.

The Petroleum engineering is divided into two parts:
1. Upstream Sector
2. Downstream Sector

1. Upstream Sector:
consists of activities like exploration, production and exploitation of oil and natural gases. After gaining a qualification in petroleum engineering, the engineers work in the exploration and production activities of petroleum and other related products. Using the latest drilling technology and geophysics for the exploration of oil reservoirs, they exploit the same for maximum output.

2. Downstream Sector:
consist activities such as the refining, marketing and distributing of petroleum products. Production is not the only work carried out in a petroleum company and the job of petroleum engineer does not get over as the oil is produced, rather, it starts at this stage. Refining process is crucial for an oil product as then only it can be used. Marketing and distributing department may require a petroleum engineer to have some management degrees.

Job Prospects:
Career prospects are quite attractive in petroleum sector as petroleum companies have great influence and offer attractive salaries to employees. The demand form petroleum and petroleum products is only expected to increase and the increase would lead to creation of new jobs. In fact, there is great demand of efficient petroleum engineers and almost every young graduate in petroleum engineering gets a job offer from petrol and gas companies from India and Overseas.

Whereas private petroleum companies offer attractive salaries to petroleum engineers, government sector oil companies are not far behind in terms of paying attractive salaries and bonuses to employees.

Pay Packet:
As in every other industry, remuneration in petroleum engineering is determined according to the knowledge, skills, qualification, capabilities and experience of the candidate. Moreover, if the candidate is from top notch engineering college he may get a job which can pay salary between Rs. 25,000 to Rs. 30,000 per month. People with more than 5years of Work Experience can earn upto Rs. 50,000 to Rs. 60,000 per month.

Further doubts or queries feel free to contact.

--
Regards,
Rahul.

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