Saudi Arabia signs deal with German firm to distribute COVID-19 vaccine

Saudi Arabia signs deal with German firm to distribute COVID-19 vaccine
Saudi Arabia has signed an agreement with a German firm to supply and distribute a coronavirus vaccine in the Kingdom. (File/AFP)
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Updated 29 November 2020

Saudi Arabia signs deal with German firm to distribute COVID-19 vaccine

Saudi Arabia signs deal with German firm to distribute COVID-19 vaccine
  • The CureVac vaccine successfully passed the first phase of clinical trials in early November
  • The announcement is part of the Saudi government’s initiatives to prevent the spread of COVID-19

JEDDAH: Saudi Arabia has signed an agreement with a German firm to supply and distribute a coronavirus vaccine in the Kingdom.
Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) said on Sunday that it had signed the agreement with biopharmaceutical company CureVac on Nov. 27.
Under the agreement, SPIMACO will apply for the necessary approvals from the Ministry of Health and the Saudi Food and Drug Authority (SFDA) to meet the requirements for distributing the vaccine.
The CureVac vaccine successfully passed the first phase of clinical trials in early November. 
Results showed an increase in virus-neutralizing antibodies in all participants who took the dose, and more than 90 percent of patients were shown to have developed antibodies against both the receptors and the COVID-19 spike protein.
CureVac is aiming to lodge a submission to the European Medicines Agency during the first quarter of 2021.
The agreement includes the possibility of extending the supply and distribution rights to the UAE, Kuwait, Bahrain and Oman.
The announcement is part of the Saudi government’s initiatives to prevent the spread of COVID-19. 
In a statement on Nov. 11, Abdullah Al-Assiri, assistant deputy minister for preventive health, said the government had previously signed an agreement to receive early supplies of two or three different vaccines that were in the final stages of their clinical trials.
“Saudi Arabia will be one of the first countries to receive the vaccines,” he said during an interview on Saudia TV.
Saudi health officials have previously announced plans to offer free vaccinations by the end of 2021 to 70 percent of residents who have not contracted the virus.


UAE’s Mubadala Petroleum signs Red Sea oil exploration deal with Egypt

The agreement, signed by Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla, allows the company to explore in a 3,084 square kilometer area of the Red Sea. (Shutterstock/File Photo)
The agreement, signed by Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla, allows the company to explore in a 3,084 square kilometer area of the Red Sea. (Shutterstock/File Photo)
Updated 23 January 2021

UAE’s Mubadala Petroleum signs Red Sea oil exploration deal with Egypt

The agreement, signed by Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla, allows the company to explore in a 3,084 square kilometer area of the Red Sea. (Shutterstock/File Photo)
  • It will own 27 percent of the stake as part of the agreement, while Shell will own 63 percent

CAIRO: The UAE’s Mubadala Petroleum Company has signed an agreement with Egypt to explore for oil and gas in the Red Sea.

The agreement, signed by Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla, allows the company to explore in a 3,084 square kilometer area of the Red Sea and was a result of a bidding round in 2019.

It will own 27 percent of the stake as part of the agreement, while Shell will own 63 percent. Egypt’s Tharwa Petroleum Company owns the remaining 10 percent.

The agreement refers to an area known as Sector 4, located in the north of the Red Sea in an area adjacent to the Gulf of Suez Basin, which is rich in natural resources. 

Parties will commit to conducting exploration studies in this sector and collecting seismic data for the area, using three-dimensional techniques, during the first three years of the exploration phase.

“The addition of Sector 4 in the Red Sea represents a new extension of our operations in Egypt, while providing a valuable opportunity to expand our activities, and by working with a strategic partner such as Shell,” said Mubadala Petroleum CEO Bakheet Al Katheeri. “The search and exploration operations in this sector, if successful, will support our strategy of extracting and manufacturing hydrocarbons, in order to contribute to supporting the stability and expansion of the Egyptian market, while providing growth opportunities for our operations in the country.”

Mubadala Petroleum owns a 10 percent stake in the offshore Shurooq gas field concession that includes the Zohr natural gas field, in addition to 20 percent in the concession area of Noor Gas Company. Both are located in the Mediterranean Sea off the coast of Egypt.