During the Aptian (Cretaceous), in what is now the South Atlantic, the largest chemogenic (abiotic) carbonate factory so far identified in the Phanerozoic geological record developed as a vast hyper‐alkaline lake system. This covered at least 330 000 km2, producing carbonates, locally over 500 m thick, in what are now the offshore Santos and Campos basins (Brazil), and Kwanza Basin (Angola). Current evidence supports the view that almost all of this carbonate was chemogenic in origin, precipitated from hyper‐alkaline, shallow lake waters, probably by evaporation. This unit, best documented from offshore Brazil and known as the Barra Velha Formation (Santos Basin) and the Macabu Formation (Campos Basin), consists of just two basic carbonate components, millimetre to centimetre sized crystal shrubs and spherulites. These are commonly in situ but can also be reworked into a range of detrital facies. Demonstrable microbialites are generally rare. These carbonates are associated with Mg silicates (as clays) which had a profound influence not only on the textural development of the in situ carbonates, but also on their diagenesis. The dissolution of the clays produced much of the porosity in these limestones, which are the hosts for multi‐billion barrel oil fields. The source of the carbonate was most likely from metasomatic alteration of mafic rocks, such as continental flood basalts related to Atlantic opening, with some contribution from much older continental basement. Clear evidence that serpentinization of possible exhumed mantle is lacking but mantle CO2 is likely to have been a critical factor in determining the composition of the fluids from which the carbonates formed and the high alkalinities of the lake waters.