Technip Q2 net tops forecast, raises oper outlook

PARIS, July 31 (Reuters) - Technip (TECF.PA) posted a 29.4 percent rise in second-quarter net profit on Thursday, driven by subsea projects for the oil and gas industry.

The French oilfield services company revised upwards its operating margin outlook to around 8 percent for 2008.

Technip, which builds oil rigs, refineries and liquefied natural gas plants, confirmed it expected full-year sales of between 7.4-7.6 billion euros despite a lower order intake. In May, it had cut its sales target from "around 8 billion euros."

The Paris-based group, which competes with bigger Italian rival Saipem (SPMI.MI), earned a net profit of 103 million euros in the three months to June 30, compared to 79.6 million euros in the second quarter of 2007.

The figure beat the average forecast of 99.9 million euros from four analysts polled by Reuters Estimates.

(Reporting by Marie Maitre)