Expatriates are leaving KazMunayGas. Some Kazakh experts have hastened to title that process “the exodus of Northmen”. Earlier, Christopher Walton, an Australian national, was in charge of the KazMunayGas Board of Directors since August 2017. Before Walton, the KMG Board was headed by Frank Kuijlaars from Netherlands. Now, Yernat Berdygulov holds that office. What is he?

Famous analyst Aidarkhan Kusainov is pretty much skeptical about that assignment. His main objections are that Mr. Berdygulov is too young and that his assignment was over the heads of those, who know petroleum industry from field operations, not university lectures. Mr. Kusainov, in his Telegram-channel, wrote the following:

Deployment of youth to high ranking offices in public institutions and national companies was a trend in late 90-s and early 2000-s. We were mastering the market economy – something Old Farts did not know. The world was changing, etc…So, it was clear why we were doing that. Now, it has been 30 years that we are in the market.  One and a half generations came and left the scene. We got masses of people with 30 years of field experience and careers. I personally know people who not only ate dust in Uzen, while drilling oil wells, but also prospected in the Caribbean and Emirates.  I do not know what is the value of the juvenile in charge of KMG, where we have tons of same juveniles with, probably, more practical exposure to oil and gas.  He does not fit.  But still, I wish him well…

What if he is a real genius, while I am an old grouchy dude. A person with Bachelor’s from a sub-standard university suddenly made Advisor of the Chair of the National Welfare Fund.  Which means, he is a genius…

Or, — let us face the facts – our Fund was advised by a Bachelor from a sub-standard Western university without real practical experience. 

Yernat and his brother

Interesting is that Yernat Berdygulov’s biography is closely connected with his brother Almat and Semizbay-U company (a deposit, to be exact). This is what the QuasiStatesman telegram channel writes on it:

As for Yernat Berdygulov, let us pay attention of the start of his career in the company led by his brother – Semizabayt-U (subsidiary of Kazatomprom). Then, he spent 8 years building up his career in Samruk-Kazyna. Then he worked in an international consulting company, for a short time, and then made it back to the Fund’s top management positions.  Besides, for a couple of years, Yernat Berdygulov was on BoDs of several national companies and then made Chair of the BoD of KMG.

Yernat Berdygulov’s Biography

Date of Birth: 03.09.1987

Place of Birth: KazSSR, Taraz.

Education:

• University of Toronto, Canada (2007-2010). Bachelor in state policy and international relations (political economy), Kazakh President’s Bolashak Scholar.  CIMA Diploma (2011-2012).
• University of Warwick, UK (2015-2018). MBA.
• Harvard Business School), USA (2022-2023). Leadership program for managers. Member of President’s HR pool since 2021.

Professional History:

• Chief Specialist of the Business Administration Department, LLP «Semizbay-U» (a subsidiary of JSC «National Atomic Company «Kazatomprom») (08.2010-03.2011);
• Project Manager, Project Office for the Implementation of the Management Reporting System (MRS), JSC «Samruk-Kazyna» (04.2011-12.2012);
• Advisor to the Chairman of the Board (on financial and economic issues), Director of the «Analytical Support» Department, Director of the Strategic Development Department, Director of the Project Management Department, JSC «Samruk-Energo» (01.2013-05.2018);
• Analyst, Assets Management Directorate, JSC «Samruk-Kazyna» (08.2018-04.2019);
• Project Manager, international consulting company Whiteshield Partners (05.2019-04.2021);
• Co-Managing Director for Strategy, Sustainable Development, and Digital Transformation, JSC «Samruk-Kazyna» (04.2021-02.2022);
• Managing Director for Strategy and Asset Management, JSC «National Welfare Fund «Samruk-Kazyna» (since 02.2022), Board Member (since 03.2022).

Other positions:

• Member of the Board of Directors of JSC «NC «QazaqGaz» (since 02.2022), Chairman of the Board of Directors of JSC «NC «QazaqGaz» (02.2022-07.2023);
• Member of the Board of Directors of JSC «NC «KTZ» (since 02.2022);
• Chairman of the Board of Directors of JSC «KEGOC» (since 03.2022);
• Member of the Board of Directors — Representative of the Majority Shareholder’s Interests of JSC «National Atomic Company «Kazatomprom» (since 05.2022);
• Member of the Board of Directors of JSC «NC «KazMunayGas» (since 04.2023), Chairman of the Board of Directors of JSC «NC «KazMunayGas,» Representative of the Interests of JSC «Samruk-Kazyna» (since 14.08.2023).

Brother of Berdygulov Yerrnat

Berdygulov Almat the Chief Executive Officer of LLP «Semizbay-U.» Almat Kudaibergenovich was born in the year 1972.

Education:

• In 1994, he graduated from Al-Farabi Kazakh National University with a degree in «Applied Mathematics.»
• In 2012, he obtained an international diploma in «CIMA Business Performance Management.» In 2015, he defended a diploma from the Higher School of Corporate Management at the Russian Presidential Academy of National Economy and Public Administration (RANEPA) with the academic degree «Doctor of Business Administration» (DBA).
• In 2018, he defended a diploma from the European University (Switzerland) with the degree «Doctor of Business Administration» (DBA).

Work Experience:

Throughout various years, he held positions such as Head of the Accounting and IT Department, Head of the Information Technology and Analysis Department, Head of the Planning and Economic Department, Financial Director, and Deputy Director of the Planning and Economic Department at LLP «Semizbay-U.»

Main Asset of the Berdygulov Brothers:

The company was established in 2006 with its primary registration date being December 12, 2006. The founders of LLP «Semizbay-U» are JSC «National Atomic Company «Kazatomprom» (51%) and Beijing Sino-Kaz Uranium Resources Investment Company Limited (49%). The company includes:

• Semizbay Mine located in Birzhan Sal District of Akmola Region;
• Semizbay Branch located in Ualikhanov District of North Kazakhstan Region;
• Irkol Mine located in Shieli District of Kyzylorda Region.

The main goal of creating LLP «Semizbay-U» is the implementation of projects for the development of the uranium deposits of «Semizbay,» located in the Enbekshilder District of Akmola Region.

Construction of the Semizbay deposit mine began in 2007, and the first production was obtained in 2009. Starting from November 1, 2008, LLP «Semizbay-U» was joined by LLP «Mining Company» through the contribution of Irkol Mine’s share capital, located in Shieli District of Kyzylorda Region. In the same year, a 49% stake was sold to the Chinese Limited Liability Company «Beijing Sino-Kaz Uranium Resources Investment Company Limited» («Sino-Kaz») (49%). The participants of the partnership were JSC «National Atomic Company «Kazatomprom» — 11%, LLP «Mining Company» — 40%, «Beijing Sino-Kaz Uranium Resources Investment Company Limited» («Sino-Kaz») — 49%. After the joining of LLP «Mining Company» to JSC «National Atomic Company «Kazatomprom,» the share of the majority participant became 51%.