Results ‘extremely encouraging’ from BP’s biggest discovery in 25 years

Initial results and analysis are “extremely encouraging” from BP’s exploratory well in the Bumerangue block in the pre-salt Santos Basin offshore Brazil. Located in a water depth of 2,372 m, the discovery has been characterised as the oil major’s largest in 25 years, and “the biggest deepwater find since Buzios in 2010” by consultancy Wood Mackenzie.

The ultra-deepwater drillshipValaris DS-15 drilled the 1-BP-13-SPS exploration well in Brazil, confirming a hydrocarbon find in the Bumerangue block, located in the Santos Basin, 404 km off the coast of Rio de Janeiro.

BP is conducting laboratory testing and other analysis to determine fluid characteristics, gas-to-oil and condensate-to-gas ratios and an estimate of in-place volumes. Planning of appraisal activities is ongoing with well activities expected to commence in early 2027, subject to regulatory approval.

“We are still in the exploration phase for Bumerangue, however, initial results and analysis are extremely encouraging as they indicate a very large hydrocarbon column and a significant volume of liquids in the reservoir” said BP executive vice president, production and operations, Gordon Birrell. He noted this year has seen “significant progress” in its upstream objectives, with six major project start-ups, five more sanctioned and “a string of exploration discoveries including Bumerangue.”

BP holds 100% participation in the block with Pré-Sal Petróleo SA as the PSC manager. The Big Board-listed energy producer holds interests in six offshore blocks in Brazil, two of which it operates.

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