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The Society of Petroleum Engineers Third Year Scholarship is offered annually to continuing undergraduate students entering third year in the Schulich School of Engineering at the University of Calgary. The scholarship is available to students majoring in Oil & Gas Engineering or with a minor in Petroleum Engineering. Awards are made on the basis of academic merit, with preference given to students who are members of the Society of Petroleum Engineers. This scholarship is funded by the Petroleum Society of Canada and provides up to $1,750 CAD per recipient. Two scholarships are available annually to support outstanding students pursuing petroleum engineering education.

The Society of Petroleum Engineers Second Year Scholarship is offered annually to continuing undergraduate students entering their second year in the Schulich School of Engineering at the University of Calgary. The scholarship is specifically for students with a major in Oil & Gas Engineering or a minor in Petroleum Engineering. Selection is based on academic merit, with preference given to students who are members of the Society of Petroleum Engineers. Up to three scholarships are available, each valued at up to $1,750 CAD. This internal scholarship provides financial support to promising engineering students pursuing petroleum-related disciplines during their second year of study.