Zhaikmunai LP is an Isle of Man registered limited partnership whose global depository receipts are listed on the London Stock Exchange. The Partnership indirectly holds 100% of Kazakhstan registered Zhaikmunai LLP ("Zhaikmunai"). Zhaikmunai is an independent oil and gas company developing the 274 square km Chinarevskoye field. The Chinarevskoye field is located in north-western Kazakhstan, 80 km northeast of Uralsk and about 60 km from the Russian border. Zhaikmunai's name is derived from "Zhaik", being the Kazakh name for the Ural River and "Munai" which means oil or hydrocarbons in Kazakh.

Zhaikmunai was formed in March 1997 to explore, produce and sell crude oil and gas condensate in north-western Kazakhstan. In May 1997, Zhaikmunai was granted an exploration and production licence for the Chinarevskoye field, in the northern part of the oil-rich Pre-Caspian Basin. In October 1997, the Company entered into a Production Sharing Agreement ("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 boepd in 2004 to 7536 boepd in the fourth quarter of 2010.

Zhaikmunai's operational facilities are located in Chinarevskoye field in the province of Batys in north-western Kazakhstan. They include an oil processing facility capable of processing 400,000 tpa (tones per annum) of crude oil, multiple oil gathering and transportation lines, a gas powered electricity generation system, major warehouse facilities and a tank farm for the storage of crude oil, materials, machinery and chemicals used in crude oil production, and an employee field camp. As of December 2010, Zhaikmunai had 30 active wells of which 12 were oil production wells, 8 were being prepared for gas condensate production, 2 were under workover, 2 were used for water injections and 6 were shot in.

Zhaikmunai has completed its Gas Treatment Facility (GTF) with two "trains" each having a capacity of 850 mmcm per year and each capable of treating gas-condensate, associated gas or a mix of both. This enables Zhaikmunai to cease gas flaring and to produce dry sales gas, LPG and condensate.