The Early Years (1997 – 2004)
Zhaikmunai was formed in March 1997 to explore, produce and sell hydrocarbons in North-Western Kazakhstan, in the northern part of the oil-rich pre-Caspian basin. In May 1997, Zhaikmunai was granted an exploration and production licence for the Chinarevskoye field. In October 1997, the Partnership entered into a Production Sharing Agreement (PSA) with the Republic of Kazakhstan.
In October 2000, Zhaikmunai started producing crude oil and reached an average production of 2,210 boepd in 2004.