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BP's Largest Global Discovery in 25 Years Fuels Brazil's Pre-Salt Boom
5 Aug
Summary
- BP announces major oil and gas discovery in Brazil's Santos basin
- Discovery boosts interest in October auction of oil blocks in the region
- Petrobras and U.S. oil majors also active in Brazil's pre-salt areas
On August 5, 2025, BP announced its largest global oil and gas discovery in 25 years, located in the offshore Santos basin of Brazil. This discovery, known as the Bumerangue block, is situated far from the three major pre-salt fields operated by state-run oil firm Petrobras, which currently account for over 70% of Brazil's pre-salt production.
The BP discovery, along with recent finds by Petrobras in other parts of the Santos and Campos basins, has reignited interest in the upcoming October auction of oil blocks in the region. Industry experts believe the "fringes" of Brazil's pre-salt area still hold significant untapped potential, with 15 firms already signed up to participate in the auction.
While Petrobras and U.S. oil majors are focusing their efforts on the environmentally sensitive Foz do Amazonas basin, the latest discovery in the Santos basin underscores the continued importance of this region for Brazil's oil and gas industry. If confirmed, the Bumerangue block could be "the biggest deep-water find since Buzios in 2010," according to consultancy Wood Mackenzie, further solidifying Brazil's position as one of the world's largest oil producers.
