BP announces significant discovery at offshore Brazil well

(Sharecast News) - BP has announced its tenth oil and gas discovery of the year after drilling at the Bumerangue prospect in the deepwater offshore Brazil, An exploration well in the Santos Basin, known as 1-BP-13-SPS, was drilled to depth of 5,855 metres, compared with the water depth of 2,372 metres.

Drilling at the well, which is located over 200 miles from Rio de Janeiro, found a 500-metre gross hydrocarbon column in high-quality pre-salt carbonate reservoir with an areal extent of greater than 300 square kilometres, BP said.

The company will now begin lab testing to assess the reservoir and fluids discovered, with further appraisal activities planned subject to regulatory approval.

"We are excited to announce this significant discovery at Bumerangue, bp's largest in 25 years," said Gordon Birrell, executive vice president for production and operations.

"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."