RE: News4 Aug 2025 16:52
Could be good new for tomorrow.
BP has made its biggest oil and gas discovery in a quarter of a century with a potential multibillion-barrel find off the coast of Brazil that analysts said could be a “game-changer”.
The FTSE 100 energy group said it had made a “significant discovery” at the Bumerangue prospect about 400km offshore in the deepwater Santos basin. The well, in water depths of almost 2.4km, encountered a 500m column of hydrocarbons in a reservoir area spanning more than 300 sq km.
BP has not given any estimate for the volume of oil and gas in the discovery but Gordon Birrell, the company’s executive vice-president for production and operations, said the find was “BP’s largest in 25 years”.