The goal of the ongoing study is to determine how orange peel extract (OPE), an environmentally benign additive, affects the corrosion resistance of carbon steel in formation water (FW). The study utilized diverse techniques to investigate the effects of different peel extract concentrations, ranging from 0.5 to 2.5 percent (v/v), and concentrations of 100 to 500 ppm at room temperature (25 °C). Subsequently, the optimal concentration of 2.5 percent (v/v) was identified, and the temperature range was expanded to 25–55 °C for further examination. These techniques include dielectric spectroscopy (EIS), potentiodynamic polarisation, open circuit potential, and weight loss quantification. The inhibitory efficiency was assessed using the aforementioned techniques, and the results were further verified through the utilization of energy-dispersive radiation (EDS) and FTIR analyses. The outcomes of electrochemical testing demonstrated that orange peel extract (OPE) displayed significant effectiveness in preventing corrosion, with an inhibition rate of 90.13% when used at a concentration of 2.5% and a temperature of 25 °C. The findings suggested that orange peel extract (OPE) acts as a corrosion inhibitor with both inhibitory mechanisms. Its performance improves as the concentration of the inhibitor increases, conforming to the Langmuir adsorption isotherm model, and it adsorbed to the steel surface through physical adsorption. The findings revealed that orange peel extract (OPE) effectively served as a corrosion inhibitor for carbon steel by adsorbing its active components onto the surface of the steel. This adsorption process was primarily physical and followed the Langmuir isotherm.