The Master of Philosophy (Petroleum Engineering) is a research-focused higher degree that expands knowledge beyond undergraduate honours or postgraduate diploma level, culminating in an original research thesis. Unlike coursework master's degrees, at least two-thirds of the study program must involve supervised research, with the thesis required to make a substantial and original contribution to knowledge through the discovery of new facts, the formulation of new theories, or the innovative reinterpretation of known data and established ideas. Students work under the guidance of a primary supervisor and associate supervisor(s), investigating specialised topics across areas such as reservoir engineering, drilling engineering, production engineering, well completion, unconventional resources, carbon capture and storage, and enhanced oil recovery techniques.

The degree is designed for high-achieving engineering graduates who wish to deepen their technical expertise, pursue an academic or research career, or position themselves for senior technical roles in Australia's energy industry. Candidates typically come from backgrounds in petroleum, chemical, mechanical, or geosciences engineering and bring a strong foundation in mathematics, physics, and applied sciences. Some coursework units may be required depending on the host institution and the candidate's prior learning, but the dominant focus is original research contribution.

Graduates of this program are highly sought after by major oil and gas operators, LNG project developers, oilfield services companies, government regulators, and research institutions. Key employers in Australia include Woodside Energy, Santos, Chevron, INPEX, Shell Australia, Beach Energy, Origin Energy, as well as global oilfield services companies such as Schlumberger (SLB), Wood PLC, and Tetra Tech. Government bodies including the Department of Industry, Science and Resources, Geoscience Australia, and state petroleum regulators also employ graduates in technical and policy advisory roles.

Applicants to a Master of Philosophy (Petroleum Engineering) in Australia are typically required to hold a Bachelor of Engineering (Honours) or equivalent qualification in petroleum, chemical, mechanical, geosciences, or a closely related engineering discipline, with a minimum credit or upper credit average (typically a GPA of approximately 4.0 to 5.0 on a 7-point scale, or equivalent to a second-class honours division 1 or above). Some institutions may also accept applicants who hold a Bachelor's degree plus a completed coursework master's degree with a minimum credit average. Relevant prior work experience in the oil and gas or resources sector may also be considered as part of a holistic entry assessment, and in some cases may be used to demonstrate equivalence to an honours-level academic qualification for applicants with significant upstream industry experience.

A critical component of the application process is the identification of a suitable academic supervisor and the development of a research proposal outlining the intended area of investigation. Applicants must align their proposed research topic with the expertise of available supervisors within the host department before or at the time of application. For international applicants, English language proficiency requirements are strictly enforced: a minimum IELTS overall score of 6.5 (with no sub-band below 6.0) is typically required, though some institutions specify higher band minimums for writing and speaking components. Equivalent scores in TOEFL iBT (minimum 79–87 overall), PTE Academic, or Cambridge English are also accepted. Australian citizens, permanent residents, and New Zealand citizens who are accepted into an MPhil program may be eligible for tuition fee exemption under the Australian Government's Research Training Program (RTP) for up to two years of full-time equivalent study.