UPDATE 1-Petrolinvest CEO says Kazakh deal near completion

(Adds details, statement from Krauze's fund)

WARSAW, April 23 (Reuters) - The head of Petrolinvest PROL.WA told Reuters on Wednesday he was confident the Polish upstream group would complete an all-share deal to boost its Kazakh presence despite the recent fall in its share price.

Petrolinvest signed letters of intent in January to pay around $500 million in its shares, valued at 320 zlotys ($149.3) each, to buy one Kazakh company and boost holdings in two others to increase access to their potentially lucrative oil fields.

Shares in Petrolinvest traded at 160 zlotys after losing a quarter of their value in the last two sessions on concerns related to its dominant shareholder, Polish businessman Ryszard Krauze.

"We are in the process of closing these transaction. We plan to issue the new shares in the near future," Petrolinvest Chief Executive Pawel Gricuk said in a brief phone interview.

He said the agreement, awaiting regulatory approval in Kazakhstan, does not allow for a renegotiation of its terms.

The private companies selling the stakes in Kazakh firms were not immediately available for comment.

If completed, the deal will dilute Krauze's stake in Petrolinvest to 30 percent from the current 49 percent.

Investors were concerned that Krauze could be unloading some of his holdings in Warsaw-listed companies after he agreed on Tuesday to sell a 20-percent stake in builder Polnord PNOR.WA to rival Pol-Aqua PQAA.WA.

In a statement, Krauze's fund Pokom Investments said its strategic goal was the development of Petrolinvest and biotech company Bioton BOTN.WA. (Reporting by Marynia Kruk; Writing by Chris Borowski; Editing by Quentin Bryar)