Amid a pivot back to its fossil fuel roots and away from renewable energy, Britain's BP said it had made its largest oil and gas discovery in 25 years.

BP is seeking to bolster oil and gas in its portfolio to regain investor confidence and revive underperforming shares.

UK supermajor BP has discovered hydrocarbons at one of its prospect exploration wells offshore Brazil, the company said on Monday. The discovery was made at the Bumerangue prospect in the deepwater Santos Basin, some 400 kilometers offshore Rio de Janeiro.