LNG

July 25 (LNGJ) - Italian energy engineer Saipem, one of the company’s retained for the Nigerian LNG expansion front-end engineering and design contest, posted first-half revenues of 3.79 billion euros ($4.42Bln) and adjusted operating profit for the period of 255 million euros versus 260M euros in the first half of 2017. “We recorded a substantial volume of new contracts in all business sectors, especially in Offshore and Onshore Engineering and Construction, in which we are achieving a balance between oil and non-oil related projects as well as penetration in new geographical areas,” said Stefano Cao, Saipem Chief Executive. “We expect that commercial activity will maintain its momentum in the second half,” added the CEO. “We have also approved a new phase of reorganisation, which will be fully operative by the end of the year,” he stated.