bp — bp updates Bumerangue

bp has provided an update on its hydrocarbon discovery at the Bumerangue block in the pre-salt Santos Basin, offshore Brazil. While the find was first reported in August, yesterday’s confirmation of a c 1,000-metre gross hydrocarbon column, comprising around 100 metres of oil and 900 metres of liquids-rich gas condensate, adds clarity on scale and composition. Liquids are present across the full column. bp reports high-quality rock properties and, significantly, indicates that it believes that the carbon dioxide content in the reservoir can be managed. Although still at an early stage of evaluation, visible progress at Bumerangue is encouraging given its potential scale and its emerging significance within bp’s upstream growth pipeline.