bp says it is accelerating appraisal and development planning for its Bumerangue find in Brazil’s Santos Basin, after fresh analysis confirmed the discovery holds a vast liquids-rich hydrocarbon column with strong reservoir quality.
The company announced on October 30 that new data from laboratory and pressure gradient analysis indicate a gross hydrocarbon column of approximately 1,000 meters, including about 100 meters of oil and 900 meters of condensate-rich gas. bp believes “the carbon dioxide in the reservoir can be managed” due to favorable rock properties and its experience in deepwater developments.
Executive Vice President for Production and Operations, Gordon Birrell, said the results have strengthened bp’s confidence in Bumerangue’s potential. “We are pleased about what we have seen to date and our confidence in the potential of this field has increased. We have a team in place and are accelerating work on proposed appraisal activities and potential development concepts, which will include the potential for an early production system.”
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bp expects appraisal drilling to begin in early 2027, pending regulatory approval. It is currently performing additional fluid analysis to determine gas-to-oil and condensate-to-gas ratios and in-place volumes.
Discovered in 2025, Bumerangue lies 404 kilometers offshore in 2,372 meters of water and spans more than 300 square kilometers of high-quality pre-salt carbonate rock. The well was drilled to a total depth of 5,855 meters. bp holds 100% participation in the block, with Pré-Sal Petróleo S.A. as the Production Sharing Contract manager.
The project forms part of a broader string of 2025 exploration successes for bp, including discoveries in the Gulf of Mexico and offshore Namibia through Azule Energy, its joint venture with Eni.
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Birrell said, “2025 has seen significant strategic progress across bp’s Upstream with record plant reliability, six major project start-ups, five more sanctioned and a string of exploration discoveries including Bumerangue. We are still in the exploration phase, however, initial results and analysis are extremely encouraging.”
bp said the discovery strengthens its long-term strategy to grow a “material, advantaged production hub in Brazil,” where it has operated for more than 50 years and currently holds interests in six offshore blocks.
