BP PLC (LSE:BP.) has announced its largest oil discovery in 25 years, in the Bumerangue block offshore Brazil.
Well 1-BP-13-SPS was drilled around 400 miles from Rio de Janeiro, in the Santos basin, in a water depth of 2,372 metres.
It was sunk to some 5,855 metres total depth, and penetrated a hydrocarbon column of around 500 metres. And, it has an estimated areal extent greater than 300 square kilometres.
BP owns 100% of the Bumerangue block.
"We are excited to announce this significant discovery at Bumerangue, BP's largest in 25 years,” said Gordon Birrell, BP EVP of Production & Operations.
“This is another success in what has been an exceptional year so far for our exploration team, underscoring our commitment to growing our upstream.
He added: “Brazil is an important country for BP, and our ambition is to explore the potential of establishing a material and advantaged production hub in the country."