KEPCO Wins $1.4-Billion power Project for $100-Billion Saudi Jafurah Field

AI Summary

South Korea's KEPCO has secured a $1.4 billion contract with Saudi Aramco to build and operate a cogeneration power plant as part of the $100 billion Jafurah gas project. The plant, expected to be completed by 2029, will supply electricity and steam for 17 years, contributing to Saudi Arabia's energy infrastructure.

South Korea’s state-run utility Korea Electric Power Corp. (KEPCO) has won a $1.4-billion deal with Saudi oil giant Aramco to build and operate Phase 2 of Saudi Arabia’s Jafurah cogeneration power plant at the major gas project estimated to need $100 billion of total investments. KEPCO’s cogeneration project entails building a 331-MW cogeneration facility capable of producing about 465 tons of steam per hour by June 2029. The plant is expected to supply electricity and steam to Aramco for 17 years, generating an estimated 2.1…