Oman signs USD 2.6 billion in gas-fired power deals

Oman signs gas-fired power deals for $2.6 billion

DOHA, January 23, 2026 – Oman has signed agreements worth USD 2.6 billion with consortiums led by Qatar’s Nebras Energy to build two gas-fired power generation plants, regional media reported on Thursday.

The deals cover the development of combined-cycle gas turbine power plants in Misfah and Duqm with generation capacities of 1.7 GW and 877 MW, respectively. Both projects have been awarded under 20-year terms.

Nebras has acquired a 49% stake in the Misfah project, with United Water and Electricity taking 44% and Bahwan Infrastructure Services taking 7%. In the Duqm project, Nebras Energy has taken a 30% stake, with Korean Western Power taking 35%, United Water and Electricity taking 30% and Bahwan Infrastructure Services 5%.

“Winning these two projects represents a significant achievement for the company and an important expansion of its presence in the Omani energy market. This supports Nebras Energy’s strategy to strengthen its asset base through technological and geographic diversification by investing in projects with strong economic viability,” said Mohammed bin Nasser Al Hajri, managing director and CEO of Nebras Energy

A preliminary launch of the plants is expected in April 2028, with full commercial operations projected for April 2029. Construction on both projects is scheduled to begin in January 2026.

Doha-based Nebras Energy is a global power investment company co-owned by Qatar Electricity and Water Company and Qatar Holding. It invests across the energy value chain with an emphasis on long-term holdings in sustainable energy assets. The company’s portfolio spans Asia, the Middle East and Europe.

Photo of Phoenix Power in Oman courtesy of Nebras Energy

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