He was born in Görogly District, Dashoguz province in 1959, and in 1982 he graduated from the Turkmen Polytechnic Institute with a concentration in oil and gas exploration and mechanization.
In 2010, he took over the role of Deputy Chairman of the Cabinet of Ministers on an acting basis from Baymurat Hojamuhammedov, who had been dismissed by President Gurbanguly Berdimuhamedow for "unsatisfactory performance".
[2] In 2012, Kakayev was appointed director of the (now defunct) State Agency for Management and Utilization of Hydrocarbon Resources.
[4][5][6] In 2017, he was dismissed by the president from this post because of weak control over the implementation of the country's oil and gas strategy.
[10] On 12 February 2021, the Turkmen Mejlis (parliament) decreed, at the request of President Berdimuhamedow, that the International Oil and Gas University be named in honor of Kakayev.