BP (BP) is seeking a partner for its Bumerangue oil discovery in Brazil, Reuters reported Thursday, citing BP's country head Andres Guevara.

BP, which holds 100% of the block, said in August that Bumerangue was its largest oil and gas discovery in 25 years, according to the report.

Guevara, who believes the partnership would "almost certainly" be closed before a final investment decision is made, said at an event in Rio de Janeiro that the partner search will take place "over the next one or two years, but it will run in parallel with the evaluation."

BP, which produces ethanol and sugar in Brazil, is also considering investments in corn-based ethanol plants in the country, Guevara said separately as reported by Reuters.

BP did not immediately respond to requests for comment from MT Newswires.