The company stated in a release: “We are pleased to announce this significant discovery in Boomerang, the largest for BP in 25 years.” It noted that this is the tenth discovery the company has achieved this year (2025) and also its largest in 25 years. BP did not disclose the reserves within its latest oil and gas discovery in Brazil. Therefore, it stated that it intends to conduct laboratory analysis and evaluation work after finding high levels of carbon dioxide gas.
BP obtained exploration and production rights in December (2022). Hydrocarbons were found after drilling to a depth of 2,372 meters below the water surface, while the well’s depth reached 5,855 meters. BP also outlined its plans to increase global oil production to between 2.3 and 2.5 million barrels per day by 2030.
It praised Brazil’s role as an important country for the company, stating that BP aspires to explore the possibility of establishing a production center in the South American country. Briel described the discovery as another success in an extraordinary year for the company’s exploration team, reaffirming the commitment to upstream sector growth.
