The purpose of this research paper is to discuss the importance of corrosion monitoring technology and development in the petroleum sector industrial in terms of cost reduction. A survey of the most commonly used means of monitoring corrosion rate and a comparison of monitoring methods; in terms of applicability, loss savings and speed of follow-up has been pursued to give people reading this research an idea of ​​these methods. Using the data found in the resources and the data collected through the survey and interviews, a general idea of ​​the importance of developing corrosion monitoring methods can be concluded. Due to the financial losses caused by corrosion every year, serious measures had to be taken to try to stop such huge losses or at least reduce them to their minimum levels. In the survey, 100% voted that corrosion monitoring is of crucial importance in industrial areas. Decide the best ways to monitor corrosion rates; is another idea that can be concluded from the data provided in this research. Different monitoring methods are available, but this research focused on the most commonly used ones. The coupon method, for example, is bitterly used to test materials, to know their properties and corrosion resistivity, before implementing them in the design or structure. Fiber optics, which is the newest method, provides the fastest readings and monitoring results, which means a faster response to corrosion development. Voting on the survey also gave an idea of ​​how quickly a method can deliver results, as well as how much savings each method can provide. The worst implication in applying a corrosion monitoring system is the integral part. This means that applying the corrosion monitoring system for the first time requires a good understanding and knowledge of the development in this field. Deciding which method is best for the business and how much a business could invest in a system requires a lot of knowledge. The company is also willing to invest money in updating the monitoring system it uses as well as maintenance from time to time. This is also a good opportunity to mention that corrosion monitoring data itself may be of relatively limited value. They must be transformed into information for decision-making purposes. Although it is impossible to monitor a corrosion problem, it is possible to use corrosion monitoring to better understand these problems and implement effective solutions..