Petroleum reservoirs and deposits are one of the vital assets of any country. Petroleum engineers work in collaboration with a specialist team to check for the natural petroleum reservoirs in their country and develop methods to extract gas and oil from these underground reservoirs efficiently and cost-effectively. The field is getting popular daily and provides a good scope for petroleum engineers in Nigeria.
|Monthly Salary Range:
|₦186875 – ₦522908
|Average Monthly Salary:
|Petroleum engineers are professionals who develop methods to extract gas and oil from underground reservoirs in the country and are responsible for both locating and extracting these natural deposits of petroleum in the country with the use of different science principles and math formulas.
In this guide, we will talk specifically about the overview of petroleum engineering salary in Nigeria, the average monthly income they can make, median salary, extras, bonuses they get, and what is the salary structure based on which petroleum engineer in Nigeria receives their salary. We will also look at the professional responsibilities so you can have an idea of what a petroleum engineer has to do in this field.
Overview Of Petroleum Engineering Salary in Nigeria
Petroleum engineers are specialists who work with other team members to check for the natural petroleum reservoirs in the country. They are also involved in developing efficient methods to extract oil and gas reservoirs using chemistry, math, engineering, and geology principles. The field is one of the emerging fields in Nigeria, with many petroleum engineers actively working.
If we talk about the salary of a petroleum engineer in Nigeria, we come to know that petroleum engineers are earning typically around ₦ 4,152,200 per year. This is an average salary and is not fixed. It varies according to the skills, professional qualifications, education, and area or company you are working with.
Moreover, the median salary of petroleum engineers in Nigeria is approximately ₦ 3,829,500 per year. This means that about half of the petroleum engineers in Nigeria earn more than this amount, and 50% earn less than this. Let’s now talk about the extras and bonuses petroleum engineers in Nigeria can get and the salary structure on the basis of professional experience, gender, and education.
When it comes to incentives and bonuses, we can say that petroleum engineering is a low bonus-based job. According to our research, we have come to know that 47% of the employees have received one bonus in the last year, whereas 53% of the employees reported that they had not received any type of bonus or incentive in the previous 12 months of their job.
Salary based on Professional Experience
Biomedical engineers with more years of experience earn quite a handsome amount of salary. More experienced professionals make more as compared to those who are beginners or newcomers in the field.
Experience level is one of the most critical factors that determines the wage of an employee. Look at the details below that tell you about the average yearly salaries of petroleum engineers on the basis of years of experience they have.
- Petroleum engineers with 0 to 2 years of experience earn an average of ₦ 2,605,500 per year salary.
- Alternatively, those with more than two years and less than five years of experience earn an average income of ₦ 3,288,400 per year.
- Moreover, the petroleum engineers who are working in Nigeria and have 5 to 10 years of experience can make up to ₦ 4,345,400 per year.
- Then comes the skilled petroleum engineers. These are the engineers that have more than ten years of experience. The petroleum engineer with experience between 10 to 15 years can earn an average of ₦ 5,111,100 per year wage.
- Then comes the highly professional petroleum engineers who have the experience of more than 15 years. They can make an average salary of between ₦ 5,651,400 to ₦ 6,011,900.
Salaries based on Gender
Male petroleum engineers who are male earn more than female petroleum engineers. Although gender differences should not be present in the salary earned by an employee, unfortunately, there is a noticeable difference between the salaries of both men and women working in the same field as petroleum engineers. Male petroleum engineers make approximately around ₦4,309,300 per year.
Whereas female petroleum engineers earn approximately ₦ 3,925,200 per year. According to our data, male petroleum engineers make 10% more than female petroleum engineers while doing the same job.
Salaries based on Education Level
Undoubtedly, education plays an essential role in depicting the employee’s salary. The petroleum engineers in Nigeria who have bachelor’s degrees in their field can make up an average of ₦ 3,373,200 per year salary.
And when we talk about master’s degree education, those petroleum engineers who are working in Nigeria and have master’s degree education can earn approximately ₦ 5,146,100. Well, you can see a massive difference in the salaries of both employees just because of their education level.
Responsibilities Of Petroleum Engineers
There are several responsibilities that petroleum engineers in the country have to fulfill. Some of them are explained below. Make sure to put your attention so you can understand what petroleum engineers have to do and what are their professional responsibilities.
- Petroleum engineers are responsible for developing the plans in order to extract gas and oil from the reservoirs in the country.
- They are responsible for maintaining and using fracturing and drilling equipment appropriately.
- Petroleum engineers supervise extractions to make sure the workers are doing well.
- Petroleum engineers also analyze how rocks and reservoirs are formed before initiating their extraction process.
- They are also responsible for researching and developing new techniques and ways for creating better, more efficient, and budget-friendly extraction methods.
- Petroleum engineers have to collaborate with engineers, geologists, geoscientists, technical staff, and computer operators to ensure their extraction project goes well.
What are the skills that petroleum engineers should have in order to excel in their profession?
A petroleum engineer should have experience in drilling equipment, should be analytical, and should have excellent mathematical skills. Petroleum engineers should also be familiar with chemical engineering, geology, and the principles of chemistry and math to ensure they can serve in a better, more appropriate way.
What is the minimum monthly income petroleum engineers can get while working in Nigeria?
The minimum average salary of a petroleum engineer who is working in Nigeria can be ₦ 186,875 per month. This amount, when converted into annual salary, becomes ₦ 2,242,500. Keep in mind these are the approximate values and vary according to several factors.
What are the key professional responsibilities of Petroleum engineers?
Petroleum engineers are mainly responsible for developing ways and efficient methods to extract gas and oil from the reservoirs in the country. They are also responsible for supervising extraction. Moreover, they research and collaborate with their team members to find out the reservoirs in the country.
Article Modified on October 28, 2023. The data in this article is written and collected by multiple authors. Learn how we research on About Us.