Water Soluble Corrosion Inhibitor effectively controls corrosion by dissolved oxygen, can be used to treat water cut well flow lines, process equipment and oil pipe lines and can be used along with drilling fluids and an effective oxygen scavenger and biocide. The Corrosion Inhibitor is suitable for pipelines application where it will partition predominantly into the water phase ensuring effective treatment of water setting out at low spots and provides good corrosion inhibiting for the drill string down hole tools. The Corrosion Inhibitor is a water soluble film forming 100% organic corrosion inhibitor has low toxicity and is biodegradable and it protects against h2s, organic acids and oxygen. The Water Soluble Corrosion Inhibitor is designed to control internal corrosion caused by dissolved oxygen in oil and gas production systems, water injection systems and pipelines and contains biocide and also prevents bacterial degradation.