|
BP PLC on Thursday provided an update on its ‘significant’ hydrocarbon discovery at the Bumerangue block in the pre-salt Santos Basin offshore Brazil. The London-based oil major said initial laboratory and pressure gradient analysis confirmed the presence of an around 1,000 metre gross hydrocarbon column including a 100 metre gross oil column and a 900 metre gross liquids rich gas-condensate column. ‘Given the presence of liquids across the entire hydrocarbon column, the high-quality rock properties observed and BP’s extensive technology and deepwater developments experience, BP believes that the carbon dioxide in the reservoir can be managed,’ BP said. The company said it is continuing laboratory testing and other analysis, with planning of appraisal activities ongoing and well activities expected to start in early 2027, subject to regulatory approval. Gordon Birrell, BP’s executive vice president for Production & Operations, said: ‘We are pleased about what we have seen to date and our confidence in the potential of this field has increased. We have a team in place and are accelerating work on proposed appraisal activities and potential development concepts, which will include the potential for an early production system.’ BP shares rose 0.6% to 444.00 pence each on Thursday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
