In May 1997, Zhaikmunai was granted an exploration and production Licence with respect to the Chinarevskoye Field. In October 1997, Zhaikmunai entered into an associated PSA with the Republic of Kazakhstan.

Zhaikmunai started with crude oil production in October 2000, and increased average monthly crude oil and condensate production from 2,210 boe/d in 2004 to 4,690 boe/d in first nine months of 2007. Zhaikmunai produced approximately 1,065,200 boe of crude oil in 2006 and approximately 1,339,300 bbl of crude oil and condensate in the first nine months of 2007.

The Chinarevskoye Field, approximately 324 square kilometres in size, is located in the province of Batys Kazakhstan, near the border between Kazakhstan and the Russian Federation, and close to several major pipelines. The west Kazakhstan administrative centre of Uralsk (or Oral, in Kazakh) is approximately 80 kilometres southwest of Chinarevskoye Field. www.zhaikmunai.com