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Uzakbai Karabalin, a distinguished figure in Kazakhstan's oil sector and a recipient of the 'Hero of Labor of Kazakhstan' title, is set to resign from the Board of Directors of KazMunayGas JSC. The veteran oil industry expert has expressed his intention to voluntarily terminate his powers effective May 29.

Karabalin has been a member of the KazMunayGas Board of Directors since January 2016. During his tenure, he actively contributed to the development of the national company, sharing his extensive experience and expertise.

Successor Nominated for Board Position

Following Karabalin's departure, the position on the KazMunayGas Board of Directors is expected to be filled by Bakytzhan Taubayev. Taubayev is currently the Managing Director for Strategy and Asset Management at the Samruk-Kazyna Fund.

Taubayev holds a degree in Oil and Gas Well Drilling Engineering from KBTU and a Master's degree in Oil and Gas Business from the Polytechnic University of Turin, Italy. He possesses substantial experience in geological exploration, drilling, and hydrocarbon field development.

If elected, Taubayev will represent the interests of the fund on the Board of Directors for the remainder of the current term, starting from May 30.