Saipem chasing drilling partner to focus on offshore construction
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MILAN (Reuters) - Italian oil service group Saipem is pressing ahead with plans to find a partner for its drilling unit to focus on its core business of building offshore installations and pipelines, the company's chief said on Thursday.Saipem makes most of its revenues from its engineering and construction (E&C) unit but wants to keep exposure to drilling to capture the recovery it believes is on the horizon.Chief Executive Stefano Cao said the drilling industry was undergoing a major crisis..