BP strikes largest oil discovery in 25 years offshore Brazil
BP has announced a major oil and gas discovery at the Bumerangue prospect in Brazil’s deepwater Santos Basin, marking its largest find in over two decades and a pivotal moment in the company’s upstream strategy.
Drilled by the Valaris DS-15 drillship, the 1-BP-13-SPS exploration well reached a total depth of 5,855 meters in 2,372 meters of water, approximately 404 kilometers offshore Rio de Janeiro. The well encountered a substantial 500-meter gross hydrocarbon column in high-quality pre-salt carbonate reservoirs spanning more than 300 square kilometers.
Initial rig-site analysis confirmed the presence of hydrocarbons along with elevated levels of carbon dioxide. BP will now proceed with detailed laboratory analysis to assess the fluid composition and commercial potential of the reservoir. Further appraisal drilling is planned, pending regulatory approval.
“This is another success in what has been an exceptional year for our exploration team,” said Gordon Birrell, BP’s executive vice president of Production & Operations. “Bumerangue not only demonstrates the world-class potential of the Santos Basin but also underscores Brazil’s strategic importance in BP’s upstream growth plans.”
BP holds a 100% interest in the Bumerangue block, which it secured in December 2022 during Brazil’s first Production Sharing Open Acreage cycle. The terms include 80% cost oil and 5.9% profit oil, managed under contract by Pré-Sal Petróleo S.A.
This marks BP’s tenth discovery in 2025, joining earlier finds in Trinidad, Egypt, the Gulf of Mexico, Libya, and Namibia, as well as another Brazilian prospect, Alto de Cabo Frio Central, where appraisal is currently underway. Together, these discoveries bolster BP’s ambition to grow upstream production to 2.3–2.5 million barrels of oil equivalent per day by 2030, with scalability into the following decade.
The Bumerangue find further reinforces Brazil’s position as a vital frontier for global energy development, especially in pre-salt basins, which have drawn strong interest from international operators due to prolific reserves and favorable contract terms.
BP’s Brazilian portfolio includes eight offshore blocks across three basins, four of which it operates. In addition to Bumerangue, BP plans to drill the Tupinambá block in 2026, maintaining exploration momentum in the region.
With this landmark discovery, BP is well-positioned to establish a significant production hub in Brazil’s offshore sector, potentially reshaping its global upstream footprint in the years ahead.
=== Oilprice.com ===
