KEPCO Secures $1.4 Billion Saudi Cogeneration Contract

The project requires KEPCO to construct a 331-MW facility capable of generating 465 tons of steam per hour by June 2029. Under the terms of the agreement, the utility will provide electricity and steam to Saudi Aramco for 17 years. This contract is projected to generate approximately 2.1 trillion won in total revenue throughout the duration of the partnership.

Jafurah remains the largest non-associated gas development in the Kingdom and sits at the heart of Saudi Arabia’s strategy to increase gas processing capacity. With reserves estimated at 229 trillion cubic feet of natural gas and 75 billion barrels of condensate, the field is designed to reach a production capacity of 2 billion cubic feet per day by 2030. Once fully operational, the site is expected to yield 420 million standard cubic feet of ethane and 630,000 barrels of high-value liquids daily, bolstering Aramco's position in both domestic and global energy markets.