Production at Iraq's supergiant Rumaila oilfield has exceeded its 10 per cent improved production target, British firm BP, which is developing the field, said on Tuesday.

Oil major BP said production had been increased by more than 10 per cent above the 1.066 million barrels a day (bpd) production rate agreed on in December 2009.

Rumaila, the workhorse of Iraq's oil industry, has estimated reserves of 17 billion barrels and produces almost half of Iraq's total output of 2.6 million bpd.

Iraq has signed a series of contracts with global oil firms aimed at boosting production from its vast reserves. Chinese company CNPC is developing Rumaila with BP.-Reuters