BP has confirmed a major oil and gas discovery at the Bumerangue prospect in Brazil’s Santos Basin, which marks its largest find in 25 years
The energy major informed the City of a significant oil and gas find at the Bumerangue prospect, situated in deepwater offshore Brazil.
The discovery was made after drilling an exploration well in the Santos Basin, approximately 404 kilometres from Rio de Janeiro. The site sits at a depth of 2,372 metres below sea level, with the well reaching a total depth of 5,855 metres.
BP reports it encountered a hydrocarbon column estimated at 500 metres in height, within a pre-salt carbonate reservoir covering more than 300 square kilometres.
Key Details of BP’s Landmark Oil and Gas Discovery in Brazil
- BP has confirmed a major oil and gas discovery at the Bumerangue prospect, located in a pre-salt deepwater carbonate reservoir off the coast of Brazil. The exploration well reached a depth of approximately 5,855 metres and intersected a gross hydrocarbon column estimated at 500 metres, across a reservoir spanning over 300 square kilometres.
- The Bumerangue block, awarded to BP in December 2022 under favourable terms, is 100% owned by the company. Brazil’s state-owned Pré-Sal Petróleo S.A. serves as the contract manager.
- Initial on-site analysis revealed elevated carbon dioxide levels. BP has now begun detailed laboratory testing to assess the reservoir’s fluid properties and commercial potential. Further appraisal activity is planned, subject to regulatory approval.
- This marks BP’s tenth hydrocarbon discovery in 2025, adding to recent exploration successes in Egypt, Trinidad, Libya, Angola/Namibia (via Azule Energy), and the U.S. Gulf of Mexico (Far South prospect).
- The find is a key component of BP’s broader strategic reset, aimed at reversing recent underperformance and increasing upstream production. The company is targeting output of between 2.3 and 2.5 million barrels of oil equivalent per day by 2030, with additional growth anticipated through 2035.
Implications
-
The find reinforces BP’s intensified focus on high-impact exploration, particularly in deepwater pre‑salt regions, which have historically yielded sizeable reserves.
-
It aligns with BP’s shift toward scaling upstream fossil fuel operations after reducing investment in renewable energy initiatives earlier in 2025.
-
While the discovery signals significant upstream upside, elevated CO₂ levels may present technical or cost challenges, and further appraisal is needed before confirming commercial viability.
