Underground O & D International Corp.

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Key transactions achieved (2023-2026)

• Acquisition financing for Suelo Energy Limited who is a 40% equity holder in the Venezuelan JV “Petrocabimas SA”, a Mixed Enterprise (ME) which holds the E&P concession rights over 5 oilfields: Tia Juana, Cabimas West, Cabimas East, Cabimas East 2 & Cabimas South.

• Proposed acquisition of an Irish Green Energy company using water splitting technology by thermolysis. 

• Origination and Advisory for Petroperu SA proposed refinancing of USD500 million debt. 

• Closed tender to supply 4 million barrels of crude to PetroPeru.

• Supply of 1.2 million metric ton LNG to Strong Petroleum

Past Transactions by Foo Jee Boo as ex investment banker

1. Project financing for the Indonesia’s West Natuna Sea gas infrastructure

· Supported the development of offshore gas fields and the cross-border pipeline that was constructed to deliver natural gas from Indonesia’s West Natuna block to Jurong Island, Singapore

· Foo Jee Boo was working in Fuji Bank as Assistant Vice President in 2000 and has provided debt financing and cash collateral/escrow facilities, aligning with other major Japanese institutions (such as The Bank of Tokyo-Mitsubishi and Nissho Iwai Corporation) to secure the cross-border energy supply.

2. Mazo facility – Project Financing for 135,000 cubic-meter Liquefied Natural Gas (LNG) carrier

2.1 Foo Jee Boo, employed as investment banker in Fuji Bank, was one of the key lenders that provided debt financing for the construction of the LNG carrier Golar Mazo. 

The construction of the vessel was supported through a secured loan facility (often referred to as the "Mazo facility") involving a consortium of banks. 

The debt for the Golar Mazo was specifically ring-fenced to its LNG operations and was secured by a first priority mortgage on the vessel, its earnings, and its charter. 

The "Golar Mazo" is a 135,000 cubic-meter Liquefied Natural Gas (LNG) carrier built in 2000. Originally managed by Golar LNG and chartered by CPC and Pertamina for Indonesian-to-Taiwanese gas run. 

2.2 The Project: The Golar Mazo (formerly the Norman Lady class vessel) was jointly owned by the Chinese Petroleum Corporation (CPC) of Taiwan and Golar LNG. 

The Charter: The vessel was used to transport LNG from Pertamina's Bontang terminal in East Kalimantan, Indonesia, to CPC’s receiving terminals in Taiwan under a long-term (20-year) charter contract. 

Constructed by Mitsubishi Heavy Industries in Nagasaki, Japan, the vessel's construction and financing were closely tied to its long-term charter agreement with the Indonesian state-owned energy company PT Pertamina.

3. Financing of Qatar Energy Along with other tier-one domestic lenders like Qatar National Bank (QNB) and Qatar Islamic Bank (QIB), as an investment banker in CBQ, Foo Jee Boo frequently participates in local syndicated loan facilities and capital raises that funnel billions in domestic liquidity to Qatar Energy and other national conglomerates and state-backed entities in Qatar.

4. CNPC / Petroleum Development Oman (PDO) Supported CNPC/PDO upstream operation and development of Block 5, (50,000 barrels per day).

5. USD 2.5 billion Refinancing of Energy Development Oman (EDO) 

· EDO owns the Block 6 oil and gas concession operated by Petroleum Development Oman (PDO). 

· This refinancing of existing USD2.5 billion syndicated term loan, generating an estimated USD100 million in interest cost saving. 

6. USD10 billion Reserve Based Loan to Petrogas E&P LLC

a. Established in 1999, it operates as the upstream energy arm of the MB Holding Company (Mohamed Al Barwani Group). 

b. The company manages a diverse portfolio of oil and gas assets spanning the Middle East, North Africa, and Europe. 

· Oman Block 5: A long-term producing, mature asset operated via Daleel Petroleum (a 50/50 joint venture between Petrogas and China National Petroleum Corporation). It features four major oil fields with recoverable reserves estimated around 200 million barrels 

· Oman Block 15: Awarded to Petrogas and CNPC, this asset is currently in the exploration phase for potential oil and gas reserves, operated by Daleel Petrol.