EnergyReader · 2026-08-06 20:31

BP's $32 Billion Bumerangue Discovery Forces Hard Choices on Brazil Farm-Down

By EnergyReader Newsroom · August 6, 2026

BP's Bumerangue discovery in Brazil's Santos Basin has an estimated 2.5 billion barrels of potentially recoverable oil and could reach peak output of 600,000 barrels per day, according to analysis published Thursday (2026-08-06). Development costs could reach $32 billion — the highest capital requirement of any offshore project in the Santos Basin on record.

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