June 24 (Reuters) -

Oilfield services company SLB expects second-quarter

revenue and core profit to be about the same as the previous

quarter due to weaker drilling activity in Saudi Arabia and

Latin America, CEO Olivier Le Peuch said on Tuesday.

The CEO, speaking at the J.P. Morgan Energy, Power &

Renewables Conference in New York, said activity in Saudi had

declined more than expected, with several rigs demobilized and

operations paused at the Jafurah unconventional gas field.

Short-cycle work in Latin America was also down,

contributing to a less favorable geographic activity mix,

impacting margins, the company said.

Oil prices

fell about 5%

to a two-week low on Tuesday on expectations the ceasefire

between Israel and Iran will reduce the risk of oil supply

disruptions in the Middle East.

"Barring any impact to activity in the Persian Gulf from the

conflict, we still expect second-quarter revenue to be flattish

sequentially," Le Peuch said.

SLB's plan to return at least $4 billion to shareholders in

2025 remains unchanged.