Kulibayev, tipped as a possible successor to President Nursultan Nazarbayev, is a powerful figure in the Caspian nation’s energy business and an influential businessman whose estimate net worth of USD 2.1 billion puts him along with his wife, Dinara, on the Forbes’ list of world’s richest people.

His appointment to the newly created holding places Kulibayev back into public life after a year of low-profile activity that led some to speculate that his influance was waning.

Earlier in his career, Kulibayev acted as the president and chairman of the state oil company KazMunaigas and head of the state holding Samruk, the predecessor of SamrukKazyna. He was removed from the post in early 2007 which some observers interpreted as an attempt to curb his increasing influence.

Kulibayev is the premier oilman in the Kazakhstan and has been the chairman of KazEnergy, an influential oil industry association, since October 2005.

The holding, SamrukKazyna, was set up this week to manage energy, mining and infrastructure assets with a total value of about $40 billion in Central Asia’s biggest economy. It was created by combining assets held by the Samruk Holding Company and the Kazyna Development Fund and share holdings held directly by the Kazakh government.