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Scheme agreement signing not likely by Aug 22

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Consortium needs more time for approvals

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Santos defers HY results to Aug 25

(Adds more details and statement from XRG-led consortium in

paragraphs 3, 7-9)

Aug 19 (Reuters) - Australia's Santos said on

Tuesday that Abu Dhabi's National Oil Company (ADNOC)-led

international consortium would not be able to finalise an $18.7

billion takeover bid for at least another four weeks, missing

the August 22 deadline.

The consortium, led by ADNOC's investment arm XRG, alongside

Abu Dhabi Development Holding Company (ADQ) and private equity

firm Carlyle, told Santos it would need at least four more weeks

to secure all required approvals, even on an expedited timeline,

and potentially longer, if not, from when the scheme terms are

agreed upon.

"While discussions and final confirmatory due diligence have

continued to be collaborative, the parties are yet to reach

agreement on acceptable terms of a binding SIA (scheme

implementation agreement)," Santos said in a statement.

With final terms still unresolved, it is unlikely for the

parties to sign a scheme agreement before the extended Friday

deadline.

The transaction, if completed, would give XRG stakes in

major operations across Australia and Papua New Guinea. However,

oil and gas producer Santos' position as a key energy firm in

Australia poses regulatory challenges to the deal.

"Given the scale of the transaction, the XRG-led consortium

continues to conduct due diligence and progress negotiations on

a binding agreement," the consortium said in a statement.

"Once due diligence has been completed and the scheme

implementation agreement has been agreed, customary corporate

approvals will be sought."

The deal requires approval from regulators in Australia,

Papua New Guinea, and the U.S.

Meanwhile, Santos said it would defer its interim earnings

report to August 25 from August 20.

Shares of the company fell as much as 3.5% to a more than

five-week low of A$7.68, as of 0101 GMT, compared to a 0.5%

decline in the ASX 200 benchmark index. It was among the

top losers in the broader equities gauge.