BP has discovered a significant oil and gas field in Brazil, believed to be the biggest oil and gas discovery in 25 years.
Delia Niculescu
International
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BP has announced the discovery of a large deep-water oil and gas field in Brazil, estimating huge reserves. This is the biggest discovery in 25 years, with BP owning a 100% stake in the Bumerangue deposit, managed by state-owned Pré-Sal Petróleo. Obtained in December 2022, the perimeter was awarded on favorable commercial terms. Initial analysis indicates high levels of carbon dioxide and BP will conduct further laboratory analysis for detailed information.
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