BP has made its largest oil and gas field discovery in the past 25 years, successfully drilling a field off the coast of Brazil. This discovery gives the oil giant fresh momentum in its drive to focus on fossil fuel production.
According to the Financial Times, the Bumerangue field is located in the Santos Basin, about 400 km off the coast of Rio de Janeiro, and covers an area of more than 300 square kilometers — roughly five times the size of Manhattan.
BP’s Executive Vice President for Production and Operations, Gordon Birrell, stated that this is “the company’s largest discovery in the past 25 years.” This is BP’s largest discovery since the 1999 discovery of the Shah Deniz field in the Caspian Sea, which holds an estimated 35 trillion cubic feet of natural gas. The Bumerangue field is believed to contain a mix of gas, condensate, and oil. However, BP stated that it is still too early to assess the size or quality of its reserves.
