bp announces major offshore discovery in Brazil's Santos Basin
bp has made what it describes as its largest hydrocarbon discovery in 25 years at the Bumerangue exploration well, located 404 kilometres off the coast of Rio de Janeiro in Brazil's Santos Basin.
The exploration well, designated 1-BP-13-SPS, was drilled in waters 2,372 metres deep to a total depth of 5,855 metres. The well successfully intersected the reservoir approximately 500 metres below the crest of the geological structure.
bp discovered an estimated 500 metre gross hydrocarbon column within high-quality pre-salt carbonate reservoir rocks, with the deposit covering an area exceeding 300 square kilometres. However, initial rig-site analysis has indicated elevated levels of carbon dioxide within the discovery.
"We are excited to announce this significant discovery at Bumerangue, bp's largest in 25 years," said Gordon Birrell, bp's Executive Vice President for Production & Operations. "This is another success in what has been an exceptional year so far for our exploration team, underscoring our commitment to growing our upstream."
The company will now conduct detailed laboratory analysis to better characterise the reservoir and fluids discovered, which will inform future development decisions for the Bumerangue block. Further appraisal activities are planned, subject to regulatory approval from Brazilian authorities.
bp holds 100% participation in the Bumerangue block, with Pré-Sal Petróleo S.A. serving as the Production Sharing Contract manager. The company secured the block in December 2022 during Brazil's first cycle of Open Acreage Production Sharing, securing favourable commercial terms including 80% cost oil and 5.9% profit oil.
The discovery marks bp's tenth exploration success in 2025, following recent finds in Trinidad, Egypt, Libya, Angola, and Namibia. The company aims to increase its global upstream production to 2.3-2.5 million barrels of oil equivalent daily by 2030.
bp has maintained operations in Brazil for over 50 years and currently holds interests in eight offshore blocks across three basins, operating four of them directly.
