CMIDC Group's offshore engineering orders reached 6.3 billion US dollars in the first quarter of this year.

In the first quarter of 2025, the marine engineering equipment market continued to be in good condition. CIMC Group's marine engineering business added effective orders worth 0.6 billion US dollars in the first quarter, with a total backlog of orders worth 6.3 billion US dollars, of which two-thirds were from the oil and gas sector. According to CIMC Group's first quarter report, due to the impact of US tariffs, crude oil prices have slightly decreased, but thanks to lower extraction costs, the trend of growth in offshore deep-sea oil and gas remains unchanged. At the same time, global macroeconomic recovery has been slow, and the fluctuating oil prices continue to affect the global offshore drilling market. The oil prices are gradually returning to supply-demand fundamentals. CIMC Offshore Engineering assets operation and management business is stable and improving, steadily advancing in opportunities for leasing seawater and ultra-deepwater platforms, actively exploring external asset markets and management businesses, and continuously signing new leasing contracts.