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BP Reveals Largest Discovery In 25 Years: Well In Pre-Salt Of Santos Basin May Transform Region Into New Global Oil And Gas Hub With 100% Company Participation.
BP announced on Monday (4) the discovery of oil and gas in the Bumerangue prospect, in deep waters of the Santos Basin, about 404 km off the coast of Rio de Janeiro. This is the largest discovery by the company in 25 years, since the Shah Deniz field in the Caspian Sea, identified in 1999.
The find is in a pre-salt area covering more than 300 km² and represents a milestone for the company’s presence in Brazil. The well was drilled to a depth of 2,372 meters, reaching a total of 5,855 meters. The detected hydrocarbon column is approximately 500 meters, according to the company’s preliminary analysis.
Field Was Awarded To BP In ANP Auction
The area where the discovery was made was acquired by BP in December 2022, during the 1st Cycle of the Permanent Production Sharing Offer, promoted by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).
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Under the signed contract, BP holds 100% participation in the block, with the state-owned company Pré-Sal Petróleo S.A. (PPSA) acting as manager of the contract. The model provides that 80% of the production will be allocated to recover the company’s costs. After this period, 5.9% of the profit will be transferred to the Brazilian government, according to the sharing rules.
Reservoir Has High Concentration Of Carbon Dioxide
According to the company, the carbonate reservoir of the pre-salt has shown good geological characteristics, but preliminary analyses indicated high levels of carbon dioxide (CO₂). The presence of gas may pose an additional technical challenge to the production process, requiring more separation steps and appropriate technologies to enable operation.
BP stated that it will continue laboratory analyses to assess the commercial potential of the deposit and that it intends to conduct further evaluation activities in the field, which will depend on regulatory approval.
Brazil Gains Prominence In BP’s Global Strategy
In a statement, Gordon Birrell, BP’s Executive Vice President of Production and Operations, emphasized the strategic importance of the discovery for the company. “We are excited to announce this significant discovery in Bumerangue, the largest for BP in 25 years,” he said.
Birrell also classified Brazil as a key country for the company’s plans, stating that BP intends to assess the potential to develop a production hub in the country, leveraging the existing infrastructure in the Brazilian pre-salt and the already established regulatory environment.
Tenth Discovery For BP In 2025
With the announcement of Bumerangue, BP reaches its tenth discovery of oil and gas in 2025. The other finds are located in Trinidad and Tobago, Egypt, Libya, Gulf of Mexico, Namibia, and Angola. The company aims to maintain its global production between 2.3 million and 2.5 million barrels of oil equivalent per day until 2030, with potential expansion until 2035.
The discovery reinforces the trend of major global operators returning to invest in offshore fields, focusing on already known areas with high potential, such as the Brazilian pre-salt.
Next Steps And Feasibility Assessment
The current phase involves detailed geological and laboratory studies on the reservoir, focusing on understanding the technical and economic viability of developing the field. The company has not yet disclosed a production schedule, but the next steps include additional seismic surveys, drilling new wells, and long-term testing.
These activities will depend on environmental licensing and favorable opinions from the ANP and regulatory agencies. BP indicated that it intends to follow all protocols and maintain dialogue with Brazilian authorities.
The Role Of Santos Basin In The Energy Scenario
The Santos Basin is one of Brazil’s most promising regions for oil and gas production. Since the discovery of the pre-salt in 2006, the area has established itself as the main offshore exploration hub in the country.
The entry of companies like BP reinforces international interest in the area. The Santos Basin houses giant fields operated by other oil companies, such as Petrobras, Shell, and Equinor, and represents a significant share of the national oil and gas production.
The discovery in the Bumerangue field adds another relevant asset to the region and may generate new jobs, investments, and royalties, depending on the confirmed recoverable volume in the upcoming phases of the project.
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