Iraq currently sits in the top 10 oil producers around the world and accounted for 2.6 million barrels of oil per day of production in 2011.
The Iraqi government is aiming for output to hit 12 million bpd by 2020, however a study by business advisors Douglas-Westwood claims that would require unprecedented growth in drilling activity.
The study examined a constrained scenario which would see output from Iraq increase to 5 million bpd by 2016, while it anticipates production from the semi-autonomous Kurdistan region could top 1 million bpd.
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