Material selection shall be done optimally with considering costs of primary investment, operation, maintenance and etc., in order to decrease of total costs in such a way that reliability and safety of facilities will be remained acceptable. Engineering material selection in industries is one of the main steps of design which will affect on industries’ life and engineering economy of plans. in the present booklet, it has been tried to review different engineering and non engineering factors of material selection, main types of corrosion in upstream and downstream facilities and proper rule of thumbs for engineering material selection in oil and gas domain.