The BBC reported BP with its pivot hopes to increase production to between 2.3 million and 2.5 million barrels of oil per day by 2030. The Brazil find also comes at the same time BP announced that it started its Argos Southwest Expansion in the Gulf of Mexico. With Argos, BP is adding 20,000 barrels of oil equivalent per day.

RIO DE JANEIRO (Reuters) -BP's announcement on Monday of its largest global oil and gas discovery in 25 years in Brazil's offshore Santos basin bodes well for Equinor's nearby interests and strong appetite for an October auction of oil blocks in the region.

BP has confirmed a significant hydrocarbon discovery at the Bumerangue prospect in the deep-water Santos Basin offshore Brazil. The exploration well, 1-BP-13-SPS, was drilled to a total depth of 5,855m and has revealed a promising hydrocarbon column in a high-quality pre-salt carbonate reservoir.