French fuel group Total will put up USD 70 mln to finance select upstream investments of Warsaw-listed upstream fuel upstart Petrolinvest in Kazachstan, Petrolinvest said in a market filing.

Total, via unit Total E&P Koblandy, will finance E&E for Petrolinvest unit TOO OilTechnoGroup (OTG) on the basis of a farm-out deal signed between the two sides, Petrolinvest said. Petrolinvest will put up 50% of its license rights, the firm said.

The deal follows a prior week financing deal with the EBRD that led to a Petrolinvest share rally in excess of 30%.