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KEPCO wins $1.4B Saudi Arabia power project deal

Created at 4 Jun · 4:55 PM2 sources↑ Market-relevant2 events
IN SHORT

Korea Electric Power Corp. (KEPCO) secured a $1.4 billion deal with Saudi Aramco to build and operate Phase 2 of the Jafurah cogeneration power plant. The facility will supply electricity and steam to Aramco for 17 years.

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Key Numbers

$1.4 billionKEPCO deal value with Saudi Aramco
$100 billionTotal estimated investment for Jafurah gas project
331-MWCogeneration facility capacity
465 tons per hourSteam production capacity
17 yearsContract duration for electricity and steam supply
June 2029Project completion deadline

Who's Involved

Korea Electric Power Corp. (KEPCO)
South Korean state-run utility that won a $1.4 billion deal with Saudi Aramco
Saudi Aramco
Saudi oil giant awarding KEPCO the $1.4 billion deal for the Jafurah cogeneration power plant

↳ Why This Matters

This deal signifies KEPCO's growing role in international energy infrastructure development and highlights Saudi Arabia's ongoing investment in its energy sector, particularly in expanding its gas production capabilities.

Key facts

  • KEPCO won a $1.4 billion deal with Saudi Aramco.
  • The deal is for Phase 2 of the Jafurah cogeneration power plant.
  • The plant will supply electricity and steam to Aramco for 17 years.
  • The facility will be a 331-MW cogeneration plant producing 465 tons of steam per hour.
  • The Jafurah gas project is estimated to require $100 billion in total investments.

South Korea's state-run utility, Korea Electric Power Corp. (KEPCO), has secured a $1.4 billion deal with Saudi oil giant Aramco. The agreement is for the construction and operation of Phase 2 of Saudi Arabia's Jafurah cogeneration power plant, which is part of a larger gas project estimated to require $100 billion in total investments. KEPCO's project involves building a 331-MW cogeneration facility capable of producing approximately 465 tons of steam per hour, with a completion target of June 2029. This plant is slated to supply electricity and steam to Aramco for a period of 17 years.

Frequently asked questions

KEPCO secured a contract valued at $1.4 billion.

The Jafurah project is a major gas project in Saudi Arabia estimated to require $100 billion in total investments, and KEPCO will build Phase 2 of its cogeneration power plant.

The plant will be a 331-MW facility producing 465 tons of steam per hour, supplying electricity and steam to Saudi Aramco for 17 years.

The cogeneration facility is expected to be completed by June 2029.

What Happens Next

01KEPCO to build and operate the cogeneration facility by June 2029.

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How It Developed

4 Jun · 4:34 PM
KEPCO has secured a $1.4 billion contract for a power project at Saudi Arabia's Jafurah field.
Seeking Alpha via PiQSuite
4 Jun · 3:30 PM
KEPCO will build and operate a 331-MW cogeneration plant for Aramco's Jafurah gas project, supplying power and steam for 17 years.
OilPrice.com Updates daily via PiQSuite

Sources

T1
KEPCO wins $1.4B power project deal for Saudi Arabia's Jafurah fieldm.piqsuite.com
T1
KEPCO Wins $1.4-Billion power Project for $100-Billion Saudi Jafurah Fieldm.piqsuite.com

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