Brazil's mega-round featuring surplus volumes in the Transfer of Rights (ToR) area ended with mixed results for the Brazilian government.

A record-breaking 70 billion reais ($17.5 billion) was raised in signature bonuses, but the round failed to attract competition and received no bids for two of the four fields on offer.

As widely expected, state-controlled oil company Petrobras played its part and bagged the two areas for which it had previously exercised preferential bidding rights — Buzios and Itapu.

However, the other two areas on offer in the round — Atapu and Sepia — received no proposals.