The article is devoted to the study of the formation of mathematical competence of students of a technical university in the process of studying mathematics and is based on the materials of the author's dissertation research. The choice of this direction in the study of competence is relevant and promising in terms of improving the modern professional education of future engineers in the oil and gas industry. The author analyzes in detail the state of the problem under study in pedagogical theory and practice; examines key research concepts; defines approaches to solving the problem of forming the mathematical competence of a future oil and gas engineer. The data of the theoretical analysis of the problem formed the basis for the development of a structural-meaningful model of the formation of the mathematical competence of a future engineer in the oil and gas business, in which the author includes target, meaningful, activity-procedural, productive-evaluative components. The effectiveness of the model being implemented and the pedagogical conditions that ensure its effective functioning is confirmed by the dynamics of changes in the level of formation of students' mathematical competence. The data of the initial and final stages of the experimental work, presented in the tables, clearly illustrate the dynamics and positive results of the study. The conclusions formulated in the conclusion of the study confirm the heuristic value of the work performed and reveal new lines of development of the indicated problem, potentially embedded in the study.Keywords: mathematical competence, learners, mathematics, higher education, experiment.