Corporate governance

DIRECTORS

Frank Monstrey was appointed as a director of ZGL on 16 November 2007 and has served as chairman of the partners participating in Zhaikmunai since September 2004. Since 1991, Mr Monstrey has been Chief Executive Officer of Probel, a private equity and asset management firm based in Belgium specialising in long term capital management in emerging markets. Mr Monstrey holds a graduate’s degree in Business Economics from the University of Louvain (KUL).

Kai-Uwe Kessel was appointed as a director of ZGL on 16 November 2007 and has served as chief executive of the partners participating in Zhaikmunai since November 2004. Since 2005, Mr Kessel has been Managing Director of Probel. From 2002 to 2005, Mr Kessel was director of Gaz de France’s North African E&P division. From 1992 to 2001, Mr Kessel was Managing Director of Erdgas Erdol GmbH, an oil and gas company owned by Gaz de France, and a member and chairman of the board of KazGermunai. Mr Kessel is a graduate of the Gubkin Russian State University of Oil and Gas.

Steve McGowan was appointed as a director of ZGL on 16 November 2007. He has been an executive chairman of SMP Partners Fiduciary and Trust Company in the Isle of Man since January 2007 and serves as a member of the board of Edasco (a fiduciary company owned by UBS). Prior to this, Mr McGowan served as managing director of Intertrust (Isle of Man) from 2001 to 2007. Mr McGowan starting his banking career at National Westminster Bank in London in 1982.

Eike von der Linden was appointed as a director of ZGL on 16 November 2007. He has been the Managing Director of Linden Advisory and Consulting Services since 1988. Since 1985, Mr von der Linden has acted as an independent advisor to financial institutions for equity investments, mezzanine and debt funding (project finance) in the field of natural resources. Mr von der Linden holds a PhD in mining economics from the Technical University of Clausthal.

Piet Everaert was appointed as a director of ZGL on 16 November 2007. He has been a lawyer at the Brussels Bar since 1986 and has served as a partner of the Vwew Advocaten law firm since 1993. He is active in the field of Belgian business law. Mr Everaert graduated from the University of Louvain (KUL) in 1984 and obtained the Diploma of Advanced European Legal Studies at the College of Europe (Bruges-Belgium) in 1985.

The business address of each of the Directors is Zhaikmunai LP's principal place of business, at Clinch’s House, Lord Street, Douglas, Isle of Man IM99 1RZ.

Senior Management

Jan-Ru Muller was appointed as Chief Financial Officer of Zhaikmunai on 16 November 2007. Mr Muller has served in various capacities at Probel since 2000. He oversaw Zhaikmunai’s adoption of IFRS and the implementation of SAP. Mr Muller has been the managing director of Axio systems, an information technology company he founded in 1990. From 1988 through 1990 he worked with Andersen Consulting. He holds a BEng degree from Utrecht Municipal Institute of Technology and an MBA degree from University of Louvain (KUL).

Viacheslav Druzhinin was appointed General Director of Zhaikmunai in 1997. Mr Druzhinin is a qualified Mining Engineer and has qualifications in exploration from the Polytechnical Institute, Tomsk, Russia and the USSR Ministry of Geology, and has also completed drilling engineer training at the Hughes Christensen Company, Houston, Texas. Prior to joining Zhaikmunai, Mr Druzhinin gained broad experience in mineral fields exploration technology and techniques working in various positions in the Field Development Department of KazakhGaz State Holding Company, State Holding Company ‘‘Zharyk’’ and VolkovGeologia KGGP.

Alexei Erber was appointed as Director of Geology of Zhaikmunai in October 2007. Mr Erber has worked for Probel since 2005 and has a diploma in Geology and Geology engineering from the Gubkin Russian State University of Oil and Gas and a degree in Mathematical Methods by Geology from the Ernst Moritz Arndnt University of Greiswald. Prior to joining Zhaikmunai, Mr Erber gained experience in the geological and explorations departments of Erdol-Erdgas Gommern GmbH and Gaz de France.

Darmen Jakishev was appointed Financial Director of Zhaikmunai in 2005. Mr Jakishev has a degree in economics from Kazakh Academy of Management, where he specialised in International Economics. Prior to joining Zhaikmunai, Mr Jakishev gained experience in auditing, accounting and corporate finance in various positions in Ernst & Young Kazakhstan from 1993 to 2003, Ernst & Young LLP, Seattle USA from 2000 to 2002, and Bank Turan Alem from 2003 to 2005.

Eckart Verseck was appointed as Operations Director of Zhaikmunai in 2006. Mr Versheck has approximately 35 years of exploration and production experience, primarily as an oil and gas engineer. Prior to joining Zhaikmunai, Mr Versheck served as chief engineer of JV Kazgermunai from 1997 to 2005.

Berik Bimuratov was appointed Commercial Director of Zhaikmunai in May 2006. Mr Bimuratov has qualifications in engineering and economy in fuel and energy from the Moscow Academy of Management and an MBA from the State Academy of National Economy, Russia. Prior to joining Zhaikmunai, Mr Bimuratov gained experience in the energy field working in various positions in SES Technolog LLP, Mangyshlakskaya Industrial Company OSC (the Managing Company of Mangyshlakskaya Nuclear Power Plant State Enterprise), Turan Petroleum JV, Kustanaiskaya Electrical Networks Distribution Company and Sonar, as well as in other sectors (agriculture—Grain Industry Group of Companies; railways—Kazakhstan Temir Zholy, Lokomotiv OSC, Association of Locomotive Repair Enterprises).

Joerg Pahl was appointed Chief Drilling Officer of Zhaikmunai in 2005. Mr Pahl has qualifications in drilling from the Technical School for Deep Drilling Techniques, Stralsund, Germany and qualifications in Drilling Technology and Fluid Mining from the Technical University, TU Bergakademie Freiberg. Mr Pahl also worked as a Scientific Assistant at the Institute of Drilling Technology and Fluid Mining at the Technical University, TU Bergakademie Freiberg during 1995 and 1996. Prior to joining Zhaikmunai, Mr Pahl gained experience in drilling working in various positions in the Drilling/Workover Technology Department at Erdgas Erdöl GmbH and the Operation and Production Department at the E&P Division of Gaz de France.