Global energy giant BP announced what it calls a “significant discovery” — its biggest oil and gas field find of the 21st century. Gordon Birrell, the U.K.-based company’s executive vice president of production and operations, called the South American find “BP’s largest in 25 years” and “another success in what has been an exceptional year so far for our exploration team.”
Location and size
The company estimates the massive oil and gas column, which is off the coast of Brazil, is about 1,600 feet tall and spans an area of about 116 square miles. It’s believed to be the company’s biggest hydrocarbon find since 1999, the year the Shah Deniz supergiant gas field, which is about 330 square miles, was discovered off the coast of Azerbaijan, The Telegraph reported.
Drilling details
The vast oil and gas field — BP calls the site Bumerangue — was detected while drilling in the Atlantic Ocean off the Brazilian coast. It’s about 200 miles south of Rio de Janeiro, deep below the Santos Basin in a water depth of nearly 8,000 feet, the company shared in a statement. The well itself was drilled to a total depth of more than 19,000 feet.
What’s next
After confirming the discovery — its 10th of 2025 to date, following finds in locations including Trinidad, Egypt, Libya, Namibia and Angola — BP, which is one of the world’s largest oil and gas producers, announced it would next begin lab testing to gather more details about the Bumerangue reservoir and fluids and will pursue “further appraisal activities.” Brazil, Birrell said, “is an important country for BP, and our ambition is to explore the potential of establishing a material and advantaged production hub in the country.”
Looking to the future
Earlier this summer, rival energy giant Shell denied it was considering an $80 billion takeover of BP. Amid speculation about BP’s future, earlier in 2025, execs said the company is cutting back investment in renewable energy and refocusing on profitable oil and gas operations.
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Author: Marisa Laudadio
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