BP is preparing to carry out appraisal drilling in Brazil to determine whether the largest oil and gas discovery it has made in the past 25 years is commercially viable.
In August 2025, BP announced that an exploratory well in the Santos Basin, offshore Brazil approximately 400 kilometres south of Rio de Janeiro had identified a significant hydrocarbon discovery at a depth of 5,855 metres within the Bumerangue offshore block.
By mid-2027, the company plans to drill three dedicated appraisal wells to assess the size, quality and quantity of hydrocarbons contained in the reservoir.
Initial estimates placed the hydrocarbon column at approximately 500 metres in height. However, according to an update released by BP in late October, the discovery actually consists of a hydrocarbon column of around 1,000 metres, including 100 metres of crude oil and 900 metres of condensate-rich natural gas.
The reservoir is composed of high-quality carbonate rocks formed beneath deep salt layers, commonly known as pre-salt formations, and extends across an area of more than 300 square kilometres—roughly the size of the entire city of Paris.
In practical terms, the reservoir represents a vast underground structure capable of containing substantial quantities of oil and natural gas under highly complex geological conditions, making the discovery particularly significant for both BP and global energy markets.
BP is currently conducting laboratory tests to determine the reservoir’s characteristics, including the gas-to-oil and condensate-to-gas ratios, as well as to estimate recoverable volumes. Planning for the appraisal programme is underway, with drilling operations expected to begin in early 2027, subject to regulatory approvals.
Gordon Birrell, BP’s Executive Vice President for Production and Operations, said: “This year has delivered significant progress for BP’s upstream business, with six major projects coming online, five more approved, and a series of discoveries, including Bumerangue. While we are still in the exploration phase, the initial results are encouraging, indicating a large hydrocarbon column and substantial liquid volumes within the reservoir.”
BP has also stated from the outset that it is seeking a partner to help develop the field, a process expected to take between one and two years, with the aim of reaching an agreement before a final investment decision is made.
According to Andre Guevara, head of BP Brazil, one potential partner is Petrobras, Brazil’s state-owned oil company, which analysts have long regarded as the leading candidate for participation in the project.
Source: Phileleutheros
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