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BP’s Bumerangue Prospect Delivers Biggest Hydrocarbon Discovery in 25 Years

BP has begun laboratory analyses to characterize reservoir fluids, pursuing regulatory approval for the next appraisal phase

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A driver refuels their vehicle at a BP gas station in Detroit, Michigan, US, on Thursday, Sept. 19, 2024.
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Overview

  • The Bumerangue block in Brazil’s Santos Basin yielded a 500-meter hydrocarbon column within over 300 km² of high-quality pre-salt carbonate reservoir
  • BP holds 100% equity in the prospect under a production sharing contract managed by Pré-Sal Petróleo S.A., secured in 2022
  • Early rig-site tests detected elevated carbon dioxide levels, prompting detailed lab analyses to assess potential extraction challenges
  • Subject to regulatory clearance, BP plans appraisal drilling and will evaluate the formation of a major production hub in Brazil
  • Bumerangue is BP’s tenth major discovery of 2025 as the company targets upstream output of 2.3–2.5 million barrels of oil equivalent per day by 2030