[Insight] Oman Orders Put Doosan Enerbility’s Middle East Gas Power Strategy to the Test

Doosan Enerbility has secured two major power plant contracts in Oman within two months, challenging its position in the Middle East gas power strategy. The KRW 930 billion ($680 million) contract for the 1.7-GW Misfah combined-cycle gas power plant, located near Muscat, follows a KRW 530 billion deal for the 870-MW Duqm plant in June.

The two projects collectively represent around KRW 1.46 trillion in contracts and 2.57 GW of generating capacity. Doosan's involvement in engineering, procurement, and construction (EPC) alongside SEPCO-3, coupled with the supply of major equipment, gives the company exposure to both construction and equipment sides of large-scale power infrastructure.

This model could become increasingly crucial as the company seeks to distinguish itself from competitors focusing primarily on construction costs. The Misfah contract adds to a series of recent Middle Eastern power projects for Doosan, including Saudi Arabia and Qatar. The new projects indicate that Doosan's experience is translating into repeat business across neighboring markets.

The Misfah project was awarded by a developer consortium comprising Nebras Power (Qatar), EUDC (UAE), and Bahwan Infrastructure Services (Oman). For Oman, the generating capacity aims to meet electricity demand and enhance power supply stability. However, the strategic significance extends further for Doosan, as each EPC project provides an opportunity to place its steam turbines and generators in overseas power plants, expanding its installed base and potentially creating longer-term maintenance and services opportunities.