Azernews.Az

Nazrin Abdul

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bp has announced a major oil and gas discovery in deep waters off Brazil’s east coast — the company’s most significant since the Shah Deniz gas field in the Caspian Sea in 1999, Azernews reports, citing the BBC.

Located in the Bumerangue block of the Santos Basin, approximately 250 miles (400 km) offshore, the site revealed a hydrocarbon-rich zone around 500 meters thick. The find is expected to play a key role in BP’s long-term plans to expand global production.

“This is bp’s largest discovery in 25 years,” said Gordon Birrell, Executive Vice President for Production & Operations. “It’s an exciting step forward, and we’re now exploring the potential for a new production hub in the region.”

The discovery adds to a series of exploration successes for bp this year, including new energy reserves in the Gulf of Mexico and offshore Egypt. The Santos Basin, known for its deep-water potential, is now set to become a central piece of BP’s energy portfolio.

The find strengthens bp’s position as a global leader in energy development and highlights the ongoing importance of large-scale offshore exploration in meeting growing global energy demands.