Brazil: BP Makes Largest Oil and Gas Discovery in Decades

(Credit: BP)

BP has made an oil and gas discovery at the Bumerangue prospect in the deepwater offshore Brazil, its largest discovery in 25 years.

BP drilled exploration well 1-BP-13-SPS at the Bumerangue block, located in the Santos Basin, 404 kilometers (218 nautical miles) from Rio de Janeiro, in a water depth of 2,372 meters. The well was drilled to a total depth of 5,855 meters.

The well intersected the reservoir about 500 meters below the crest of the structure and penetrated an estimated 500-meter gross hydrocarbon column in high-quality pre-salt carbonate reservoir with an areal extent of greater than 300 square kilometers.

Results from the rig-site analysis indicate elevated levels of carbon dioxide. BP said it will now begin laboratory analysis to further characterize the reservoir and fluids discovered, which will provide additional insight into the potential of the Bumerangue block. Further appraisal activities are planned to be undertaken, subject to regulatory approval.

BP holds 100% participation in the block with Pré-Sal Petróleo as the Production Sharing Contract manager. BP secured the block in December 2022 during the first Cycle of the Open Acreage of Production Sharing of ANP, on very good commercial terms.

“We are excited to announce this significant discovery at Bumerangue, bp’s largest in 25 years. This is another success in what has been an exceptional year so far for our exploration team, underscoring our commitment to growing our upstream. Brazil is an important country for bp, and our ambition is to explore the potential of establishing a material and advantaged production hub in the country,” said Gordon Birrell, bp’s executive vice president for Production & Operations.

Bumerangue is bp’s tenth discovery in 2025 to date. BP has already announced oil and gas exploration discoveries at Beryl and Frangipani in Trinidad, Fayoum 5 and El King in Egypt, Far South in the Gulf of America, Hasheem in Libya and Alto de Cabo Frio Central in Brazil, in addition to discoveries in Namibia and Angola through Azule Energy, its 50-50 joint venture with Eni.

BP plans to grow its global upstream production to 2.3-2.5 million barrels of oil equivalent a day in 2030, with the capacity to increase production out to 2035.