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BP makes its largest oil and gas discovery in 25 years offshore Brazil
BRAZIL, AUG 4 – BP's discovery at Bumerangue is its 10th in 2025 and supports its plan to boost global oil production to 2.3-2.5 million barrels per day by 2030, the company said.
- On Monday, BP revealed a major oil and gas find at the Bumerangue block in Brazil's Santos Basin, marking its most significant discovery in more than two decades.
- BP secured the Bumerangue block in 2022 and aims to explore establishing a significant production hub in Brazil amid a strategy refocus on oil and gas.
- BP's tenth discovery in 2025 consists of a 500-meter thick layer of oil and gas within a superior pre-salt carbonate formation covering more than 300 square kilometers.
- Executive Gordon Birrell described the achievement as another triumph during a highly successful year for BP’s exploration team and emphasized their dedication to expanding upstream production.
- The find supports BP's focus on increasing upstream investment to $10 billion annually while the company expects lower overall production in 2025 despite maintaining longer-term growth targets.
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The British company found oil and gas in the Santos Basin, which extends for more than 300 square kilometers, an area five times greater than that of Manhattan.
At the beginning of the year, the British group abandoned an ambitious energy transition strategy.
BP’s Record Oil Find in Brazil Signals New Wealth—and Hard Choices Ahead
BP has uncovered its biggest oil and gas field in 25 years deep under the sea off Brazil, a fact confirmed in recent official company statements and government reports. The field, called Bumerangue, lies over 400 kilometers from Rio de Janeiro in the Santos Basin and covers more than 300 square kilometers. BP drilled down […]
BP makes its largest oil and gas discovery in 25 years offshore Brazil
BP has made its largest oil and gas discovery in 25 years offshore Brazil, it said on Monday, in a potential big boost for the British company following its strategic shift away from renewable energy to refocus on fossil fuels.
British oil and gas company BP has discovered a huge oil and gas reserve in the Bumerangue field in the Santos Basin, about 400 kilometers from Rio de Janeiro. BP's chief operating officer Gordon Birrell called the discovery the largest in a quarter of a century.
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