MILAN, April 22 (Reuters) - Italian energy contractor

Saipem said on Monday its first-quarter adjusted core

earnings rose 40% on the same period of last year, driven by

growth at its offshore engineering and construction business.

Adjusted core earnings increased to 268 million euros ($285

million) from 191 million euros in the same period of last year.

The group said its most significant new contract in the

first three months of the year was the execution of the Whiptail

oilfield development project for ExxonMobil ( XOM ) offshore

Guyana.

($1 = 0.9392 euros)