Spotlight: BP’s Landmark Deepwater Discovery in Brazil

In this episode, we unpack BP’s most significant oil and gas discovery in 25 years. A deepwater find in Brazil’s Santos Basin that is reshaping upstream strategy, competition, and industry outlook.

Here’s what you’ll learn in this episode:

• Historic Discovery: Why the Bumerangue well is being compared to BP’s legendary Caspian Sea find in the late 1990s.
• Ultra-Deepwater Achievement: The advanced drilling technologies and subsea capabilities that made this milestone possible.
• BP’s Strategic Rebalancing: How Brazil and the U.S. Gulf of Mexico now anchor BP’s upstream growth pipeline.
• Competitive Landscape: How Exxon, Chevron, and Petrobras are responding to BP’s breakthrough in Latin America’s offshore race.
• Deepwater Resurgence: Why breakeven costs of $35–$45 per barrel are making deepwater barrels competitive with U.S. shale.
• Implications for Upstream Professionals: What this discovery means for capital allocation, talent, and the future of offshore development.

With OPEC’s output strategy pressuring U.S. shale, AI transforming drilling economics, and sustainability reshaping water management in the Permian, BP’s Brazil discovery signals a pivotal moment for the global energy mix.

Whether you’re an upstream strategist, offshore engineer, or energy market watcher, this episode offers insights into deepwater’s new role in the 2030s.