Biography

Date of Birth: 08.06.1973

Place of birth: Aktau , Mangistau region, Kazakhstan

Place of residence: Astana

Bakytzhan Utegaliyev, Chairman of the Supervisory Board at "Olympex Management", is a recognized expert on oil export, Kazakhstan’s oil market and oil trading.

Being an oil expert in the fourth generation, Bakytzhan Utegaliyev made a precept of his grandfather Azhigali Utegaliyev - development of the oil industry in Kazakhstan - the mission of his life.

The words of his mentor - to become an expert and catalyst for the development of the oil sector in Kazakhstan - Bakytzhan Utegaliyev perceived as a duty in life. For this, he received a high class education in the oil industry - "Development and exploitation of oil and gas fields" 1991-1996, "Economics and management in industries " 1999-2003 at Kazakh National Technical University, "Project Management" in 2006-2008 at Ulyanovsk State University, Russia, "Mechanism and Oil trading and Operations" 2002 at Petroleum Economist Program, London, UK, "Oil trading and operations" in 2002 in Oxford Princeton Program, London, UK.

Bakytzhan Utegaliyev started his career from the basis of the oil industry: as an operator of oil and gas, petroleum engineer, oil trader having grown to Deputy General Director of "KazMunaiGas" Trade House JSC, later "Mangistaumunaygaz" and finally create his own oilfield service company.

Having spent more than 10 years in the industrial sector of the oil industry (at various positions: from 1990 as an operator for oil and gas in "Zhetybai -oil", Aktau; Petroleum Engineer at JV "Kumkol - Lukoil", Kyzyl-Orda, 1996; Commercial Director at LLP "Karaspan", Almaty, 1996-1997; Manager of oil production in "Kazakh oil" , Astana, 1998-2000; representative of Kazakh National Oil company "Kazakh oil" LLP at "TCO", Atyrau, 2000-2001), Bakytzhan Sisengalievich successfully completed an oil trade training in Oxford, UK, where he studied the mechanism and all the subtleties of the exchange and OTC oil trading and accumulating experience required for Kazakhstan as an oil trader at Chevron Texaco, Surrey, United Kingdom (2001-2003).

It was at this time when Bakytzhan Sisengalievich was offered to join "KazMunaiGas" National Company to an executive position in “KazMunaiGas" Trading House in order to develop Kazakhstan's export potential.

Having returned to his homeland for the sake of the country's prosperity and qualitative development of the oil industry of his native Kazakhstan, Bakytzhan Sisengalievich successfully implemented his tasks of expanding the geography of Kazakh oil exports, shifting the sales system up to international standards, reviewing of all contractual obligations, building relationships with foreign partners. To implement these goals Bakytzhan Sisengalievich takes part in the government commission as an expert on export sales, explains all specifics of the industry, the global practice of selling oil, formation of oil prices, the marker grades of oil, etc. to all participants of Kazakhstan’s oil market. Here his foreign trading experiences as well as his knowledge and business network help him realize the goals.

The top management of "KazMunaiGas" National company appreciated the quality and success of the tasks realized by Bakytzhan Sisengalievich, and, as a result promoted him to a position of Deputy General Director for Commerce at JSC "KazakhOil - Aktobe", which had been acquired by a national company and a leading Russian company JSC "Lukoil Overseas" (50 / 50). The main task for Utegaliyev Bakytzhan was to build up a sales system from scratch. Later, he was invited again to the trading house "KazMunaiGas" as the first Deputy Director General; and in November 2009 he was appointed Deputy General Director for commercial advisory at «Mangistaumunaygaz» whose assets had been jointly acquired by NC "KazMunaiGas" and Chinese CNPC.

All around self-education and specialization in export issues and oil trade made Bakytzhan Sisengalievich be sure that even the most brilliant and professional manager cannot do anything alone, without good specialists and a good team. Therefore, it is important for him to educate and train younger generation in today’s acute shortage of specialists of offshore oil production and oil trade.

In his work Bakytzhan Sisengalievich aims not to just perform routine operations within the given business process, but also continuously initiates innovation to implement the necessary qualitative changes in the progressive development of the oil sector in Kazakhstan: technical update in the oilfield services sector, providing Kazakhstan with institutions and instruments for the independent effective formation of prices for Kazakh oil and oil products, contributing to the improvement of the export oil trade.

The most important task of his life Bakytzhan Sisengalievich considers the creation of a strong and competitive domestic oil servicing cluster in the form of a continuous cycle integrated centre.

Bakytzhan Sisengalievich believes that the time for realization of this task has come. Kazakhstan is currently at the stage of becoming a member to the WTO and it is the most important milestone of development of Kazakhstan’s oilfield services sector. The experience of the Russian Federation, which joined the WTO earlier than Kazakhstan, has shown that even Russian service companies with their infrastructure and oilfield service industry base are losing their market share quickly. The same scenario could be repeated in Kazakhstan. At the same time scattered oil service companies cannot resist foreign companies with their access to "long" and "cheap" sources of financing, the latest oilfield technology and highly qualified personnel, but united into the integrated centre they can form a competitive organization able to significantly reduce the cost of oilfield services, while increasing the profit of the integrated enterprises. Also, according to Bakytzhan Sisengalievich, it will allow domestic oilfield services companies to meet the growing requirements of environmental safety.

Being passionate about his life's mission, i.e. his work, Bakytzhan Sisengalievich skillfully finds time for the most important people in his life, i.e. his family: his wife Dameli, daughter Jannete and son Nuri. He instills the basic principles of his life into his children: to be honest, to respect people and remain a man under any circumstances. This is what his mother Utegaliyeva Shakizat had taught him; she had always supported all initiatives of her son and trusted him.

Latest update: 16.04.2014