Reservoir Engineer salary in Iceland

Average Yearly Salary of Reservoir Engineer in Iceland is approximately 22,536,862 ISK (158,027 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Reservoir Engineer do?

A reservoir engineer is a professional who specializes in analyzing and managing underground oil and gas reservoirs. They use their expertise to optimize the extraction of hydrocarbons from reservoirs, ensuring maximum production efficiency while minimizing costs and environmental impact. Reservoir engineers work closely with geologists and geophysicists to evaluate the properties and potential of reservoirs, conducting detailed simulations and predictive models to estimate reserves and develop production strategies. They also monitor well performance, analyze data, and make recommendations for well interventions or enhanced oil recovery techniques. Reservoir engineers play a crucial role in the exploration and production of oil and gas, as they are responsible for maximizing the recovery of resources from subsurface reservoirs.

Skills: Reservoir engineer, Oil and gas, Hydrocarbon extraction, Reservoir analysis, Production optimization, Enhanced oil recovery
Job industry: Oil and gas

How much does Reservoir Engineer make?

Difference in salary year over year or average salary increase is approximately 3 %


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Salary comparison to National average

Is Reservoir Engineer a well paid job?

Yes, our data show that Reservoir Engineer is a very well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Reservoir Engineer?

High salary for Reservoir Engineer would be somewhere between 24,790,548 ISK and 32,678,450 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Reservoir Engineer in Iceland?

Living in Iceland the approximate monthly expenses are: 2,729 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 22,536,862 ISK
Estimated Monthly Salary: 1,878,072 ISK
Estimated Weekly Salary: 433,401 ISK per week
Estimated Hourly Salary: 10,835 ISK per hour
By working as Reservoir Engineer a person can save up to 10,440 USD per month or 125,281 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Iceland, see costs of living in Iceland.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Norway, Faroe Islands, United Kingdom.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Reservoir Engineer

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

Top 10 highest salaries in Iceland

Data as of 2025

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