Security improvements and a soon-to-be booming upstream oil and gas business in Iraq has compelled German carrier Lufthansa to resume its international flights to Iraq. Since November Iraq has signed contracts with leading IOCs from around the world to develop 10 major oil fields around the country, with the aim of raising its output to between 10 and 12 million bpd.
Â
After a 20-year interval, on 25 April 2010, Germany’s largest airline will launch services from Frankfurt to the city of Erbil in Northern Iraq. Lufthansa customers will have a choice of four flights per week on this new route. Lufthansa will operate the four-and-a-half hour flight with an Airbus A319 with 132 seats in business and economy class.
Erbil has been served since 2006 from Vienna by Austrian Airlines. Through partner and code share agreements Lufthansa customers will now have a choice of nine flights per week to Erbil.
The demand for flights to Iraq is growing amid signs of an economic recovery and as foreign firms set up operations in the country. With a population of one million, Erbil, is the fourth-largest city in Iraq and has a rich history spanning several thousands of years.
The economy in this region is growing vigorously. Numerous diplomatic and commercial representations, organisations and foreign companies have been set up in Northern Iraq. Erbil International Airport has recently been expanded and has a modern passenger terminal.
Iraq generated more than four billion dollars in oil revenues in January from almost 60 million barrels of exports.
Iraq has the world’s third largest conventional oil reserves, behind Saudi Arabia and Iran, with a conservative estimate of around 115 billion barrels.
Â
