Setting up an aviation company to serve the oil fields in Algeria.

Algeria has started to study preparations for setting up an aviation company to serve the staff of the oil sector within a previous agreement between the director of the Algerian Airlines, Faisal Khalil, and the head of the National Oil Company Sonatrack, Abdel Meguid Attar.

The capital of the new aviation company will be 700 million dinars ($121 million).

Well-informed sources said the company will transport the inspection technical teams for the oil and gas fields, administration staff, among others. The goods carried by the company are expected to be over 900 tons per year.

A committee formed by the two signatories is currently studying the final details of the new company, such as the kinds of planes to be used. The new company's headquarters will be in Has Masoud and its establishment comes within the restructuring of Sonatrack to cope with the needs of the market economy.