BP has made its largest discovery in 25 years with a new oil and gas find in the Santos Basin, approximately 250 miles off the coast of Rio de Janeiro, the company announced on Monday, August 4, 2025.   

According to the release, the company's exploration well, 1-BP-13-SPS, at the Bumerangue block, revealed a substantial hydrocarbon column in a high-quality pre-salt carbonate reservoir.

The well, drilled to a total depth of 5,855 meters in 2,372 meters of water, penetrated an estimated 500-meter gross hydrocarbon column, with the reservoir's areal extent exceeding 300 square kilometres. 

While initial analysis indicates elevated levels of carbon dioxide, BP plans further laboratory analysis to characterise the reservoir and fluids.

Gordon Birrell, BP's executive vice president for Production & Operations, called the discovery "a significant success" and highlighted the company's commitment to growing its upstream portfolio. 

“We are excited to announce this significant discovery at Bumerangue, bp’s largest in 25 years. This is another success in what has been an exceptional year so far for our exploration team, underscoring our commitment to growing our upstream,” said Birrell.

He noted that Brazil is a key country for BP and that the company hopes to establish a "material and advantaged production hub" there.

BP holds a 100% stake in the Bumerangue block, which it secured in December 2022. The company, which has now made 10 discoveries so far this year, plans to conduct further appraisal activities subject to regulatory approval. 

Other recent discoveries have been made in Trinidad, Egypt, the Gulf of America, Libya, Namibia, Angola, and another in Brazil, with the company aiming to grow its global upstream production to 2.3-2.5 million barrels of oil equivalent per day by 2030.