Previously owned by businessman Kairat Boranbayev, JSC 'Phystech II' has been added to the list of companies subject to privatisation in 2025. The corresponding decree was signed by Prime Minister Olzhas Bektenov.
According to Ratel.kz, the enterprise is planned to be sold via an open tender, an electronic auction, or a direct targeted sale method.
It has become known that the ultimate beneficiary of JSC 'Phystech II' until October 2023 was Dariga Nazarbayeva's in-law, Kairat Boranbayev.
It is noted that the company is engaged in oil production at the Severny Karazhanbas field in the Mangystau region.
In January 2025, the Samruk-Kazyna fund received 100% of the shares of JSC 'Phystech II' from the Ministry of Finance. The securities were valued at 8.1 billion tenge, whereas previously the Agency for Financial Monitoring (AFM) had cited a sum of 35.4 billion tenge.
Recall that in March 2023, businessman Kairat Boranbayev, his partner Roman Nakhanov, and former deputy chairman of the management board of QazaqGaz, Taiyr Zhanuzak, were sentenced to 8 years in prison for embezzlement of funds on an especially large scale in the quasi-public sector.
It was later reported that Boranbayev voluntarily returned assets worth over 90 billion tenge to state ownership and transferred 30 billion tenge to the Education Infrastructure Support Fund.
In November 2023, Boranbayev was released from prison. In May 2024, Deputy Chairman of the AFM Zhenis Yelemesov told journalists that, overall, Boranbayev had returned 134.5 billion tenge to the state.