Yelge Qaitaru Foundation:KazMunayGaz and its owner, the National Wealth Fund Samruk-Kazyna, hid the information

As it became known from pub­licly avail­able sources on the Internet, accord­ing to a press release dat­ed June 10, 2011, the nation­al com­pa­ny KazMunayGaz com­plet­ed the acqui­si­tion of a 100% stake in the autho­rized cap­i­tal of Aktaunefteservis LLP.

Aktaunefteservis LLP was main­ly engaged in the pro­vi­sion of oil­field ser­vices to JSC Mangistaumunaigas (more than 90% of the vol­ume). 50% of the shares of JSC Mangistaumunaigaz belong to KazMunayGas.

The direct buy­er of Aktaunefteservis LLP was Cooperative KMG PKI UA, a 100% sub­sidiary of NC KazMunayGas. The deal was val­ued at $334 million.

Aktaunefteservis LLP is a hold­ing type orga­ni­za­tion that owns a 100% stake in the fol­low­ing legal entities:

- OilServiceCompany LLP (well drilling, over­haul and under­ground well workover, chem­i­cal­iza­tion of oil pro­duc­tion process­es, etc., the num­ber of employ­ees is about 3,300 people);

- OilConstructionCompany LLP (con­struc­tion and instal­la­tion works, con­struc­tion of indus­tri­al facil­i­ties, pow­er lines, roads; instal­la­tion and dis­man­tling of drilling equip­ment, the num­ber of employ­ees is about 2100 people);

- OilTransportCorporation LLP (tech­no­log­i­cal trans­port at the Mangistaumunaigaz fields, deliv­ery of goods and trans­porta­tion of work­ers, the num­ber of employ­ees is about 2600 people);

- Mangistauenergomunai LLP (oper­a­tion and main­te­nance of elec­tri­cal equip­ment “Mangistaumunaigaz”, the num­ber of employ­ees is about 700 people);

- Munaitelecom LLP (telecom­mu­ni­ca­tions at the fields Mangistaumunaigaz, the num­ber of employ­ees is about 700 people).

However, the nation­al com­pa­ny KazMunayGaz and its own­er, the National Wealth Fund Samruk-Kazyna, hid the infor­ma­tion that the ulti­mate ben­e­fi­cia­ry of the Aktaunefteservis group of com­pa­nies pur­chased by KazMunayGas, also includ­ed the chair­man of the board of the National Wealth Fund Samruk-Kazyna Timur Kulibayev.

All these sub­sidiaries of Aktaunefteservis LLP became the prop­er­ty of Timur Kulibayev after he acquired JSC Mangistaumunaigas from its for­mer own­ers, includ­ing Rashid Sarsenov.

This process was com­plet­ed in November 2009. Then 100% of the shares of JSC Mangistaumunaigaz were sold to a joint ven­ture of KazMunayGaz and Chinese CNPC.

Oil refin­ing assets, includ­ing the Pavlodar petro­chem­i­cal plant, and aux­il­iary assets, includ­ing Aktaunefteservis LLP, became the prop­er­ty of Timur Kulibayev. This is evi­denced by the so-called agree­ment on restruc­tur­ing the assets of Central Asia Petroleum Limited, which was the sole share­hold­er of JSC Mangistaumunaigaz, dat­ed August 24, 2008. It was pre­pared by the peo­ple of Timur Kulibaev — Zhitendra Gupta and Maria Sozinova. This doc­u­ment lists all assets acquired sub­se­quent­ly, in June 2011, for $334 mil­lion by the nation­al com­pa­ny KazMunayGaz.

Please note that in 2004–2007 the same group of per­sons sold to itself as non-core assets all ser­vice enter­pris­es owned by the nation­al com­pa­ny KazMunayGaz for next to nothing.

Only for the com­pa­ny KazStroyService, acquired by Kulibayev T.A. through front struc­tures for only 10 mil­lion US dol­lars, the dam­age to the Republic of Kazakhstan amount­ed to at least $1 bil­lion. This assess­ment was made on the basis of a trans­ac­tion made short­ly after the acqui­si­tion of KazStroyService by Timur Kulibayev. A block of 7.5% of the shares of KazStroyService was sold to Credit Suisse and Goldman Sachs for $75 mil­lion, based on the esti­mat­ed mar­ket val­ue of the KazStroyService com­pa­ny of $1 billion.

We ask you to check these facts and, if these cir­cum­stances are con­firmed, take mea­sures to bring the per­pe­tra­tors to jus­tice and com­pen­sate for the dam­age caused to the state.

Your response will be com­mu­ni­cat­ed to the pub­lic and mass media.

Best rea­grds,

Bulat Abilov

Urazaly Yerzhanov

From:

Mr. Abilov B.M.

Mr. Yerzhanov U.S.

Yelge Qaitaru Foundation, 42V Ivanilov street, Almaty, Kazakhstan

To:

Mr. Asylov B.N, Prosecutor General of the Republic of Kazakhstan

Mr. Akhmetzhanov M.M., Minister of Internal Affairs of the Republic of Kazakhstan

Mr. Bektenov O.A., Chairman of the Agency of the Republic of Kazakhstan on com­bat­ing corruption

Mr. Elimanov Zh.K, Chairman of the Agency of the Republic of Kazakhstan on finan­cial monitoring

July 27,2022

Original link to claims on web­site, Government of the Republic of Kazakhstan