KazMunayGas, Kazakhstan Temir Zholy appoint new chairmen

ASTANA – Alik Aidarbayev and Sauat Mynbayev were appointed Nov. 20 Kazmunaygas (KMG) and Kazakhstan Temir Zholy (KTZ) chairpersons of the board, respectively, reports the Samruk Kazyna Sovereign Wealth Fund’s press service.

Alik Aidarbayev and Sauat Mynbayev (L to R). Photo credit: Samruk Kazyna.

Astana-based KMG is Kazakhstan’s national operator for hydrocarbon exploration, production, refining and transportation. Ninety percent of its shares are managed by Samruk Kazyna and 10 percent of its shares belong to the Kazakh National Bank. Key executives include Chief Financial Officer and Senior Vice President (VP) Dauren Karabayev, Chief Operating Officer and Production, Exploration and Oil Field Services Executive VP Oleg Karpushin and Oil Transportation, Refining and Marketing Executive VP Daniyar Tiyessov.

Aidarbayev was KMG general director in 2011-2013 and Samruk Kazyna vice chairperson since 2018. Born in the Almaty region, he began his career in oil and gas in 1985 and has since held management positions in Yuzhkazneftegaz, Turgai Petroleum and Mangistaumunaygas. He was also Mangistau region akim (governor) in 2013-2017 and first vice minister for investments and development in 2017-2018. He will be assuming Mynbayev’s post.

Astana-based KTZ is Kazakhstan’s national railway company which develops, operates and maintains railway transportation in the country and internationally. One hundred percent of its shares are owned by Samruk Kazyna. Key executives include Managing Director for Economy and Finance Sholpan Omarbekova and Chief Engineer Bauyrzhan Urynbassarov.

Mynbayev, a Lomonosov Moscow State University graduate, was the KMG chairperson since 2013. He was also the vice minister of finance in 1995, ministry of finance treasury head in 1997, first vice minister of finance in 1997-1998, minister of finance in 1998-1999, President’s Executive Office deputy head in 1999, minister of agriculture in 1999-2001, Kazakh Development Bank chairperson in 2001-2002, Caspian Industrial & Financial Group general director in 2002-2003, vice prime minister in 2003-2004, minister of industry and trade in 2004-2006, Samruk Kazyna chairman in 2006-2007, minister of energy and natural resources in 2007 and minister of oil and gas in 2010-2013. He will be assuming Kanat Alpysbayev’s post, who was KTZ chairperson since 2016. Prior to Alpysbayev, Askar Mamin occupied that post until his appointment as first deputy prime minister.

Samruk Kazyna chairman Akhmetzhan Yessimov emphasised Mynbayev’s strong performance at KMG upon announcing his new appointment.