BP Uncovers Largest Oil and Gas Reserve in 25 Years in Brazil
British energy giant BP has announced a major breakthrough with the discovery of substantial oil and gas reserves in Brazil’s Santos Basin, making it the company’s biggest find in more than two decades.
The discovery was made at the Bumerangue block, located approximately 404 kilometres offshore from Rio de Janeiro in waters nearly 2,372 metres deep. The exploration well, named 1-BP-13-SPS, reached a total depth of 5,855 metres, confirming the presence of a vast hydrocarbon reservoir.
This find is particularly significant as it marks BP’s return to large-scale fossil fuel discoveries after years of transitioning toward cleaner energy sources.
According to the company, the well encountered the reservoir about 500 metres below the crest of the geological structure and penetrated a gross hydrocarbon column of around 500 metres within high-quality pre-salt carbonate rock. The reservoir is estimated to stretch over 300 square kilometres, pointing to immense resource potential.
Preliminary assessments conducted at the drilling site revealed high carbon dioxide levels, prompting the company to begin detailed laboratory testing to fully analyse the rock and fluid characteristics. Further exploration and evaluation are planned, pending regulatory clearances.
“This is a major discovery—BP’s most significant in 25 years,” said Gordon Birrell, Executive Vice President for Production & Operations at BP. “It’s a testament to the skill of our exploration team and strengthens our commitment to expanding upstream operations. Brazil continues to be a crucial region for our long-term growth, and this discovery could pave the way for a major new production hub.”
BP currently holds full ownership (100%) of the Bumerangue block, with Brazil’s Pré-Sal Petróleo S.A. managing the Production Sharing Contract. The block was secured by BP in December 2022 during Brazil’s 1st Cycle of ANP’s Open Acreage bidding round, under favourable terms.
The Bumerangue discovery is BP’s tenth successful exploration in 2025, adding to its list of recent finds in Trinidad, Egypt, the Gulf of Mexico, Libya, Namibia, Angola, and other parts of Brazil. The company has outlined plans to boost its global upstream output to 2.3–2.5 million barrels of oil equivalent per day by 2030, with a potential extension beyond 2035.
