en.Wedoany.com Reported - Korea Electric Power Corporation (KEPCO) has secured a contract for the second phase of the Jafurah combined-cycle power plant project in Saudi Arabia and signed a power and steam sales agreement with Saudi Aramco, Yonhap News Agency confirmed, citing a company statement.

South Korea's Doosan Enerbility has received a $556 million engineering, procurement, and construction (EPC) contract from KEPCO to build a power plant.

The combined-cycle power plant has an installed capacity of 331 megawatts and can produce 465 tons of steam per hour. The plant is scheduled to begin operations in June 2029, after which it will supply electricity and steam to Saudi Aramco for 17 years.

KEPCO has partnered with Saudi Aramco to establish a special purpose vehicle (SPV) to manage the project, with contract funding from the Export-Import Bank of Korea. Reports estimate that the project will generate a total of $790 million in export revenue for local companies.

In February 2026, Saudi Aramco announced the start of production at its Jafurah unconventional gas field. Covering an area of 17,000 square kilometers, the field is estimated to contain 229 trillion standard cubic feet of raw gas and 7.5 billion barrels of condensate.

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