Want to know petroleum engineering salary in india? Well you have landed on the right article
Petroleum Engineering has been emerging as an attractive technical education option among youth. This field is all about extraction, expansion, and innovation.
The rate of employment in petroleum engineering is expected to increase by 8% from 2020 to 2030 with more than 2000 vacancies every year making it a lucrative career option in India.
Major career options in this field are oil & gas extraction, enterprise management, coal and petroleum manufacturing, process engineering, etc.
After graduation, the freshers can go for jobs like petroleum geologist, oil & gas plant engineer, drilling engineer, petroleum engineer, and reservoir engineer.
Whereas, experienced students can go for jobs like production engineer, senior petroleum engineer, offshore drilling engineer, etc.
With the development in technology, innovative statistical tools, and enhanced oil recovery has brought the aspects of petroleum engineering back in limelight.
Some of the prominent companies that hire petroleum engineers in India are Indian Oil Corporation, Oil Gas India, Lubricants India, ONGC, ISM, IOC, etc.
The article will guide you about the salary of a petroleum engineer in India as per qualification and experience level.
Petroleum Engineering Salary in India Per Month
Owing to less availability of petroleum experts, the demand for petroleum engineers have risen in recent times. So is their salary. As per Ambition box, in India, the salary of petroleum engineer in india lies in the range of Rs 35,957 to Rs 37,183 per month.
Whereas, students can expect a takeaway salary in the range of Rs 0.2 lakh to Rs 43.6 lakh per annum. While the average salary is Rs 4.8 lakh per year.
As per reviews of employees in Glassdoor, the salary falls in the range of Rs 25000 to Rs 2 lakh per month. The expected salary per annum is Rs 3 lakh to Rs 25 lakh. The average salary per year is Rs 10,04,875 per year.
As per Jobted, the monthly income of a petroleum engineer on average is Rs 61,185 per month and Rs 7,34,200 per year.
Average salary per month of some prominent companies in India:
- Bharat Petroleum - Rs 34000
- L&T Infotech - Rs 27,634
- Pan India Consultants - Rs 20,000
- Indian Oil Corporation - Rs 16,000
- Hindustan Petroleum - Rs 8,333
- Oil India - Rs 20,000
- Reliance Petroleum - Rs 15,000
Petroleum engineering Salary Starting Salary
The starting salary depends upon the recruiting company and the skills possessed by the aspirant. As per Glassdoor, the minimum and average salary of petroleum engineers is 3 lakh per year.
As per the Ambition box, students can expect a minimum or starting salary of Rs 0.2 lakh per annum. Whereas Jobted has recorded the minimum salary of petroleum engineers as Rs 2.3 lakh per annum excluding bonuses and other compensations.
Given below is the list of major companies that hire petroleum engineers along with their starting salary.
- Cairn Energy - Rs 5L
- Deep Industries - Rs 2.5L
- Quest Global - Rs 3.1L
- Indian Oil Corporation - Rs 1L
- Weatherford - Rs 1.5L
- Hindustan Petroleum - Rs 0.5L
- Bharat Petroleum - Rs 0.2L
- Focus Energy - Rs 2L
- ONGC Petro Additions - Rs 0.3L
- Shell - Rs 5.9L
- BVishal Oil & Energy - Rs 3L
Petroleum engineering Experience Wise Salary
The salary of petroleum engineers has a direct relation with the experience level of employees. More experience, the more the salary will be. In today’s competitive market, the person with more experience gets more perks and benefits.
The average annual salaries as per experience level from various resources is listed below:
0 – 2 years | Rs 5L - Rs 6.5L |
2 – 5 years | Rs 7L - Rs 8.5L |
5 – 10 years | Rs 9L - Rs 12L |
10 – 15 years | Rs 13L - Rs 15L |
Above 15 years | Rs 15L - Rs 50L |
Some of the lucrative benefits the experienced employees get are life insurance, paid time off, health and disability coverage plans, etc.
Some Indian companies with their maximum salaries:
- Cairn Energy - Rs 14L per year
- Oil & Natural Gas - Rs 10L per year
- Shell - Rs 25L per year
- Indian Oil - Rs 24L per year
- Hindustan Petroleum - Rs 24L per year
- Amazon - Rs 23T
Petroleum engineering Salary & Allowances
In India, a petroleum engineer can earn a minimum salary of Rs 17,400 per month and a maximum salary of Rs 49,800 per month. Whereas, the typical salary is usually up to Rs 32,800 per month in India.
As per your qualification level and experience level - even your gender and location plays an important role - you get high salaries with different allowances.
As per statistics, 25% of petroleum engineers get paid less than Rs 21,700 while 75% of petroleum engineers earn less than Rs 37,900. Also, 25% of employees work for more than Rs 37,000. In India, a salary increment of 13% is generally observed every 15 months in this field.
Talking of allowances, petroleum engineers are rewarded with incentives and bonuses in India. Bonuses are given on the basis of individual performance, company performance, end-of-the-year bonuses, and milestone achieving bonuses - also it depends upon the level of seniority in an organization.
Petroleum Engineering Salary in India: Qualification Wise
Despite less availability of petroleum engineering students, the petroleum industry is growing as the demand has increased. The field of petroleum engineering has three levels of study - undergraduate, postgraduate, and diploma. The qualification level plays an imperative role in their salary expectations in India.
What listed here is salaries as per qualification level of employees:
Diploma degree | INR. 3,00,000- 6,00,000 |
Postgraduate degree | INR. 7,50,000- 10,00,000 |
Undergraduate degree | INR. 6,99,027- 8,00,000 |
Skills Required to become A Petroleum Engineer
Apart from qualifications, there are certain skills that are given priority while selecting employees in various positions of petroleum engineering.
Some of them are:
Teamwork
Communication skills
Drilling and Exploration
Engineering control and Management
Geology of Petroleum
Oil and Gas Processing System Design
Pipeline Design Engineering
Reservoir Design
Deep-Sea Production Engineering
Certification in Applied Petroleum Engineering
Certification in Refinery Engineering, and many others.
Conclusion
Petroleum engineering deals with the study of extraction of petrol and natural gases, methods to manufacture, study, purification, and utilisation of natural gases and oil. Despite less availability of engineers in this field, the profile of petroleum engineer is honoured and well-paid in India.
Reason lies behind the increased demand for petroleum products which is still increasing. This has led to generation of vacancies in this industry every year.
In fact, the chances of getting hired by prominent petroleum based companies are more for every level of graduates - with or without experience in coming times.
Many companies in India and overseas are looking to hire petroleum engineers and similar job profiles. Indian Oil Corporation, Reliance industries, ONGC , Essar Oil Limited , Gas Authority of India , Bharat Petroleum, Reliance Petroleum Limited, Hindustan Petroleum Corporation , Gas Projects (India) Private Limited,
Oil India Limited, Tata Petrodyne, Hindustan Oil Exploration Company Limited, IBP Co. Limited, Lubricants India, India LPG, Oil Gas India, Kochi Refineries Limited, Petrosil Group, etc. are few of them to mention.
You can expect an average salary of Rs 10,04,875 per year via companies based on your education, qualification level, and experience level. Overall, the students aspiring to move forward in petroleum engineering have a stable and good future.
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Frequently Asked Questions
Q1. What is a Petroleum Engineer's salary in India?
In India, on average, a petroleum engineer earns around INR 17,400 per month as an entry-level to a highest of INR 49,800 per month.
These are prior to the experience level, qualification, and education level of the employee. Apart from these they get housing, transport and other benefits too.
Q2. Is petroleum engineering a good career in India?
Yes, the demand for petroleum engineers has increased from the past few years due to decline in petroleum products.
The need for expansion has led to increased demands of various engineers in this industry.
The rate of employment in petroleum engineering is expected to increase by 8% from 2020 to 2030 with more than 2000 vacancies every year making it a lucrative career option in India.
Q3. What is the salary of an IIT Petroleum Engineer?
The highest salary of an IIT Petroleum Engineer in India is usually observed at Rs 12L per year.
Some of the prominent IITs of India like IIT Kharagpur, IIT Dhanbad, etc offer placement through companies such as Adani, HPCL, ONGC, OIL, WIPRO, etc.
A fresher with less than three years of experience can expect an average salary of Rs 5.7 Lakh per annum, whereas a professional with more than three to less than 9 years of experience can be offered an average pay of up to Rs. 7 Lakh per year.
The senior employees with more than 10 years of experience can earn up to Rs 38.4 lakh per year.
Q4. Who is the highest-paid Petroleum Engineer?
The highest salary of petroleum engineer recorded in India is Rs 43.6 lakhs per year, which is Rs 3.6 Lakh per month.
Among different job profiles in the petroleum industry, drilling engineers are considered the best among all, also they get paid the highest.
The role of drilling engineer involves tasks such as drilling oil and gas wells, investigating the safety during drilling processes, checking efficiency of drilling machines, and undertaking operations with less damage to the environment.