BP ( NYSE: BP) on Monday announced its biggest oil and gas discovery in 25 years at the Bumerangue prospect, located in deepwater offshore Brazil.

British oil and gas giant BP on Monday announced that it has made its biggest oil and gas discovery in more than two decades thanks to a drilling operation off the coast of Brazil.

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.