Rio de Janeiro, Brazil. BP is preparing to drill test wells in Brazil to determine whether its largest oil discovery in 25 years is commercially viable. The company said it will drill three appraisal wells by mid-2027 at the Bumerangue block in the Santos basin, about 400 kilometres south of Rio de Janeiro.
Discovery details
BP found a hydrocarbon deposit 5,855 metres deep at the site in August 2025. Initial estimates put the vertical hydrocarbon column at about 500 metres, but a BP update in late October said the discovery spans a total hydrocarbon column of around 1,000 metres, including a 100-metre crude oil column and a 900-metre gas-condensate column.
Reservoir and testing
The reservoir is made up of high-quality pre-salt carbonate rocks and covers an area of more than 300 square kilometres, roughly the size of Paris. BP is carrying out laboratory tests to assess the reservoir’s characteristics, gas-to-oil and condensate-to-gas ratios, and to estimate volumes. Appraisal planning is underway, and drilling is expected to begin in early 2027, subject to regulatory approvals.
Company response
Gordon Birrell, BP’s executive vice president of production and operations, said: “This year has seen significant delivery for BP’s upstream business, with six major project start-ups, a further five sanctioned and a sequence of discoveries, including Bumerangue. While still in exploration phase, initial results are encouraging, indicating a large hydrocarbon column and material volume of liquids in the reservoir.”
Partnership search
BP said from the outset that it was seeking a partner to develop the deposit. The company said the process could take one to two years, with the aim of securing a deal before making a final investment decision. Andre Guevara, head of BP Brazil, said Petrobras, Brazil’s state-owned oil company, is a potential partner. Analysts had already identified Petrobras as the frontrunner.
