RIO DE JANEIRO, Nov 28 (Reuters) - Brazilian state-run oil firm Petrobras could review some of the 15 wells it plans to drill in the so-called Equatorial Margin, as Brent oil prices are expected to remain low in the coming years, its CEO said on Friday.

In its business plan for the 2026-2030 period, Petrobras cut planned investments for the region that extends along Brazil's northern coastline from the state of Rio Grande do Norte to the state of Amapa by $500 million to $2.5 billion.

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"We had a large set of wells for the Equatorial Margin; some were prioritized, others were, let's say, deprioritized depending on the price of Brent crude oil," Petrobras Chief Executive Officer Magda Chambriard said in a press conference.

She did not say how many of the 15 wells could be reviewed.

The Equatorial Margin is considered Petrobras' most promising oil frontier, with the firm commencing drilling this year in an environmentally sensitive area off the coast of Amapa known as Foz do Amazonas.

Petrobras' cuts will also impact extraordinary dividends to shareholders, Chief Financial Officer Fernando Melgarejo told journalists, saying the possibility of doling out extra cash in the coming years is low.

Despite the cuts, Petrobras expects to maintain its oil production at some 2.6 million or 2.7 million barrels per day until 2034 after ramping it up around 2027, Chambriard said.

These oil production levels represent the peak Petrobras expects to reach in the next five years under its new business plan.

https://www.reuters.com/business/energy/petrobras-oil-output-ramp-up-around-2027-maintaining-level-until-2034-ceo-says-2025-11-28/