Timur Kulibaev: Top Manager in the Energy Sector of Kazakhstan

Kulibaev Timur Askarovich is an investor, manager, sports official, and philanthropist. In collaboration with governmental bodies, he has worked on improving the business environment in the Republic of Kazakhstan. He is also active in several sports federations, as well as charitable projects, which he implements through the Halyk Charitable Foundation.

Name:

Kulibaev Timur · Timur Kulibaev · Kulibaev Timur Askarovich · Timur Askarovich Kulibaev · Кулибаев Тимур · Тимур Кулибаев · Кулибаев Тимур Аскарович · Тимур Аскарович Кулибаев · Тимур Құлыбаев · Құлыбаев Тимур · Құлыбаев Тимур Асқарұлы · Тимур Асқарұлы Құлыбаев · 库利巴耶夫·铁木尔 · تيمور أسكاروفيتش كوليباييف

Timur Kulibaev: Studies and Early Career

Kulibaev Timur was born in the autumn of 1966 in Alma-Ata, back when it was the capital of the Kazakh SSR (the city is now known as Almaty, and the capital is now the city of Astana). His father was a statesman and held a doctorate in engineering.

In 1983, Kulibaev Timur Askarovich graduated from a school with a focus on technical subjects, designed for gifted children, after which he passed the entrance exams for Lomonosov MSU, where the future manager studied economic planning. He graduated from the university in 1988. Eleven years later, the entrepreneur defended his doctoral thesis on improving the management system of oil companies in a market economy.

In 1988, Kulibaev Timur Askarovich secured a position at one of the research institutes of the State Planning Committee of the Kazakh SSR, where he worked for about two years. Then, from 1990 to 1992, he led the national clearing center under a foundation that supported the republic's scientific, technical, social, and cultural sectors.

Timur Kulibaev: Biography at New Places of Work

From 1992 to 1995, Timur Askarovich Kulibaev headed the Altyn-Alma consortium, which was then transformed into the ALMEX investment group in 1996. Today, it provides banking, insurance, and HR services, and also invests in agriculture. The corporation operates not only in Kazakhstan but also in several neighboring countries. Kulibaev Timur is among the owners of the Group.

In the spring of 1995, the businessman and his colleagues, with support from a Dutch credit institution, founded ATFBank. Kulibaev Timur Askarovich chaired the bank's supervisory board and also helped with its loan committee.

In 1997, the manager briefly worked in public service as a member of the national Investment Committee, with the powers of a deputy minister. During this period, Timur Kulibaev transferred the management of his assets to a team of managers. That same year marked a significant turn in the Timur Kulibaev biography. In March, by decree of the head of the republic, all state-owned oil and gas companies were consolidated into the national company Kazakhoil. Two months later, Kulibaev Timur was appointed vice president of the company. In this position, the manager oversaw financial and economic issues, successfully implemented advanced management practices, and introduced new techniques for evaluating enterprise efficiency.

From early spring 1999 to May 2001, Timur Kulibaev served as the president of KazTransOil – the national company managing the republic's main oil pipelines. At the time of its establishment in 1997, it operated 6,400 kilometers of pipelines transporting "black gold" and water conduits extending for 2,000 kilometers.

Subsequently, the structure merged with KazTransGas, resulting in the creation of the joint stock company Oil and Gas Transport. Kulibaev Timur Askarovich served as the CEO of this organization until February 2002, after which it merged with Kazakhoil, resulting in the national company KazMunayGas (also known as NC KMG). Timur Askarovich Kulibaev served as the first deputy president of this company.

In May 2005, Timur Kulibaev facilitated KazMunayGas' entry into the largest hydrocarbon exploration and production project, Kashagan, with the acquisition of an 8.33% stake from British Gas. The manager was also instrumental in preparing a major deal that concluded in July 2006 with NC KMG acquiring a 33% stake in PetroKazakhstan Inc. (PKI) from CNPC. Financing for this acquisition was raised through the issuance of $1.372 billion in floating-rate bonds with a 10-year maturity and without recourse to NC KMG. The collateral included the acquired stake in PKI and 80% of the dividends from PetroKazakhstan Inc. in favor of KazMunayGas. The payback period for this investment was three years, compared to the oil and gas industry average of 8–10 years.

From November 2005 to December 2023, Timur Kulibaev led Kazenergy, which was established on his initiative to bring together the major companies operating in Kazakhstan's energy market, including both national and international firms. The association, under the leadership of Kulibaev Timur, actively facilitated cooperation between the energy sector and the government. Today, it comprises 59 business entities and is accredited by the National Chamber of Entrepreneurs of Kazakhstan Atameken.

Kulibaev Timur Askarovich: Work in the Energy Sector with Samruk-Kazyna

Until August 2007, Timur Kulibaev, biography of whom includes extensive experience working in major national companies, served for nearly a year and a half as the deputy head of the Samruk holding, which was responsible for managing state assets.

For several years, Timur Kulibaev led the key management bodies of KazMunayGas (NC KMG) and KEGOC. During this period, NC KMG emerged as a leader in hydrocarbon reserves, production, and processing across the CIS space. Thanks to the initiatives of Timur Askarovich Kulibaev, KazMunayGas significantly expanded its resource and operational base in 2006–2007, successfully implementing a series of infrastructure and merger and acquisition projects. The latter organization acts as the operator of Kazakhstan's unified power system, today managing nearly 400 overhead power lines with a total length of about 27,000 kilometers, along with 82 substations.

In 2008, Kulibaev Timur Askarovich received another appointment, this time as the chairman of Kazakhstan's national committee in the World Petroleum Council. This NGO, accredited by the UN, aims to support the sustainable development of the energy sector, addressing the industry's environmental, social, technical, and management challenges. The council brings together 65 countries that produce and consume over 96% of the world's oil and gas.

In 2008, Timur Askarovich Kulibaev became the deputy head of the Samruk-Kazyna holding, which was established by presidential decree in Kazakhstan with the direct mission of enhancing national prosperity.

Kulibaev Timur also became the chairman of the board of directors for several national companies within the holding, including Kazatomprom, which works in geological exploration and uranium mining and enrichment. Timur Kulibaev also took on a similar position as a member of the board of Kazakhstan Railways. Samruk-Energy, which specializes in electricity and heat generation, as well as coal mining, also falls under his supervision.

In 2011, Kulibaev Timur Askarovich chaired the board of the foundation at a time when the President of Kazakhstan entrusted the organization with several significant tasks. Companies within Samruk-Kazyna were expected to become "economic champions," capable of competing in global markets and implementing large-scale innovative projects. The head of state also instructed to conduct a "people's IPO" for several national companies and to improve their management systems.

Timur Askarovich Kulibaev played a key role in securing Kazakhstan's participation in the development of the Karachaganak oil and gas field. Initially, the field, which provides the country with nearly half of its gas and 18% of its "black gold," was developed by an international consortium of four companies (British Gas, Eni, ChevronTexaco, and Lukoil), with a contract running through 2038. The negotiations lasted two years, culminating in an agreement at the end of 2011. The republic acquired a 5% stake in the project in exchange for the settlement of fiscal and customs disputes. KazMunayGas also purchased another 5% at the market price of $1 billion.

Furthermore, Kulibaev Timur organized an audit of the innovative work conducted by national companies. In mid-December 2011, six of these companies were running a total of 19 programs worth $850 million. A majority of these initiatives were focused on the oil and gas and railway industries, as well as sulfuric acid production. State-owned corporations also had projects aimed at developing telecommunications, energy, and postal services. Having accomplished the set objectives, the manager stepped away from the holding.

Kulibaev Timur: Role in Developing Kazakh Businessmen

In the largest Eurasian state, there are several organizations uniting members of the business community at various levels. The President has an ombudsman for entrepreneurs' rights who has direct access to the head of state. Kazakhstan has chosen to centralize activities aimed at protecting and developing the entrepreneurial environment, for which it established the National Chamber of Entrepreneurs Atameken, an NGO encompassing cooperatives, partnerships, joint stock companies, national companies, agricultural enterprises (as well as companies involved in processing or selling agricultural products), and even individual entrepreneurs. The National Chamber was founded on the basis of Atameken Union, which Timur Kulibaev led for many years as chairman of the presidium of the National Chamber. He also proposed keeping the name, already familiar in Kazakhstan, for the new structure.

Kulibaev Timur Askarovich was elected head of the National Chamber twice. The expert community has noted that this role was more than just a mere title for him. Rather, he fully immersed himself in the organization's work, dedicating a significant portion of his time to it. Although the Kulibaev Timur biography of work was mainly bound up with large business management up to that point, this did not prevent him from delving into the issues of small and medium-sized enterprises (SMEs) and working on solutions to emerging problems in the SME sector.

At the beginning of his tenure as head of the National Chamber, Timur Kulibaev had to define its operational direction: to propose real solutions to problems, rather than merely providing government representatives with a list of issues.

The National Chamber also looked to global experiences for guidance. For example, in the 2010s, the RF made an assertive move into the global agricultural market, led by large agribusiness holdings. In Kazakhstan, however, the agricultural sector was primarily made up of self-employed farmers. According to Timur Kulibaev, Kazakhstan needed to integrate these small farms into unified structures and then provide them with financial support.

In 2020, Kulibaev Timur Askarovich held a series of online meetings with entrepreneurs from all regions of Kazakhstan representing various business sectors, focusing on the economic challenges brought on by the coronavirus pandemic. Atameken decided that government support should prioritize those companies and individual entrepreneurs who could maintain their workforce at pre-pandemic levels. As in the RF, Kazakhstan provided businesses with subsidized loans to pay salaries. Other support mechanisms included refinancing, deferral of tax and social security payments, and more.

Following consultations with industry business communities, the National Chamber compiled a set of requests and suggestions that were forwarded to the government, and according to Timur Kulibaev, many issues were successfully resolved. This has become an ongoing process. At the recommendation of Timur Askarovich Kulibaev, support measures were reviewed, and ineffective or unused tools were phased out in favor of new mechanisms.

Kazakhstan is divided into four donor regions, though only two of them generate income – thanks to the oil and gas sector. The two capitals, Astana and Almaty, contribute to the national budget through the financial sector, industry, and services segment. Timur Kulibaev, biography of whom is closely linked to the energy sector, understood the country's need to reduce its dependence on the volatile hydrocarbon market and advocated for the widespread development of businesses outside the fuel and energy complex, including small and medium-sized enterprises.

Timur Kulibaev and his colleagues helped develop a specialized subject on the fundamentals of business activities aimed at schools and colleges. Initially offered as an elective, by 2021, this subject was included in the core technical and vocational curriculum.

Timur Askarovich Kulibaev has said that if even one in every five or ten students who complete the course decides to start their own business, the course can be considered a success. The National Chamber decided to provide support to such interested young citizens throughout their university education. Such potential is the key to the country's future development, Timur Kulibaev emphasizes, and must be fostered and supported.

In 2022, Kulibaev Timur Askarovich left the National Chamber. Over the course of eight years, the Chamber received 40,000 inquiries, with nearly half of the situations resolved in favor of the business sector. Under Timur Askarovich Kulibaev, economic crimes were decriminalized, leading to an 80% reduction in the number of economic-related criminal cases.

Timur Askarovich Kulibaev: Sports Management in Kazakhstan

Timur Kulibaev has also been actively involved in both Kazakhstani and international athletic associations. From 2009 to 2019, he led the Boxing Federation of Kazakhstan and currently serves as its president emeritus. He has held the position of vice president in the International Boxing Association since 2012.

In the fall of 2015, Kulibaev Timur Askarovich also took the helm of the National Olympic Committee of the Republic of Kazakhstan – a position he still holds. Moreover, since 2016, he has been a member of the Executive Committee of the Olympic Council of Asia, which consolidates 45 National Olympic Committees across Asia, and since 2017, he has held significant roles within the structures of the International Olympic Committee.

From 2016 to 2019, Timur Askarovich Kulibaev also led the Kazakhstan Swimming Sports Federation. And in 2018, the manager joined the presidium of the Kazakhstan Golf Federation, serving until July 2023.

Initiatives put forth by Timur Askarovich Kulibaev for collaborating with regional authorities to increase the efficiency of state funds allocated for sports development were especially effective and memorable.

Timur Kulibaev: Biography Outside of Work

He regularly plays sports. Numerous significant and timely charitable projects across various sectors have been initiated by Timur Kulibaev. Biography of the patron encompasses support for education, culture, and sports, as well as aid for the less fortunate by building housing and providing funds for the reconstruction of social infrastructure facilities following natural and man-made disasters.