Oman signss power contracts worth $2.6 billion with Qatar's Nebras, and Korea Western Power

The Omani state-run news agency reported that Oman's Nama Power & Water Procurement had signed agreements with two consortiums, one led by Qatar's Nebras Energy while the other was headed by Korea Western Power. These agreements were for power generation projects.

The agency said that the agreements were power purchase agreements for combined-cycle?turbine gas power projects in Misfah?and Duqm.

It added that the Misfah combined-cycle projects will use advanced technology to increase fuel efficiency and reduce emissions. They are expected to help support grid stability and economic growth in Oman.

Qatar's state-run news agency QNA reported on the deals as well, stating that Nebras Energy through one of its subsidiaries has been awarded two separate contracts to develop gas-fired combined cycle power generation plants in Oman.

QNA reported that the projects include Misfah Power Plant with 1,700 megawatts of total capacity and the Duqm Power Plant with 877 megawatts of total capacity. Both are under 20-year contracts.

QNA reported that Nebras Energy had acquired a stake of 49% in the Misfah Power Plant and 30% in the Duqm Power Plant.

(source: Reuters)