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.

BP has made its largest oil and natural gas discovery in 25 years off the coast of Brazil, it said Monday, in a potential big boost for the British company following its strategic shift away from renewable energy to refocus on fossil fuels.

bp drilled exploration well 1-BP-13-SPS at the Bumerangue block, located in the Santos Basin, 404 kilometres (218 nautical miles) from Rio de Janeiro, in a water depth of 2,372 metres. The well was drilled to a total depth of 5,855 metres.