SAO PAULO, Jan 16 (Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA: Quote, Profile, Research)(PBR.N: Quote, Profile, Research) said late Thursday it canceled tenders for the construction of the P-61 and P-63 production platforms as it considered the prices bid too high given current market conditions.

The platforms were destined for use in the Papa-Terra project in the Campos Basin. In a note to the local market regulator known as the CVM, Petrobras said it is reevaluating how it will develop the field.

The oil industry is expecting a drop in the price of equipment and services to accompany the 75 percent drop in the price of oil over the past six months, from its high of $147 a barrel in July to around $35 a barrel. (Reporting by Camila Moreira; Writing by Reese Ewing; Editing by John Picinich)