November 20, 2018 / 6:36 AM / 7 months ago

Kazakhstan reshuffles state oil, railway firm executives

ALMATY, Nov 20 (Reuters) - Alik Aidarbayev, former deputy head of Kazakhstan’s sovereign wealth fund, has been named chief executive of the Central Asian nation’s national oil company, KazMunayGaz, sovereign fund Samruk-Kazyna said on Tuesday.

Aidarbayev replaced Sauat Mynbayev, who has run KazMunayGaz for five years and was on Tuesday named chief executive of the state railway company, Kazakhstan Temir Zholy. Samruk-Kazyna gave no reason for the reshuffle.

KazMunayGaz is one of the biggest upstream companies in the former Soviet republic. It also owns, on behalf of the state, stakes in three large projects led by global energy majors - Tengiz, Kashagan and Karachaganak.

Kazakhstan has said it would float a minority stake in KazMunayGaz in coming years and sources told Reuters in September the Astana government had invited international investment banks to pitch for roles in its listing. (Reporting by Olzhas Auyezov; Editing by Clarence Fernandez)

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