Australian oil and gas producer Santos said an international consortium led by Abu Dhabi National Oil Company has asked for at least four additional weeks to finalise its A$28.5 billion (US$18.7 billion) takeover offer, missing the 22 August deadline set earlier in the process. The parties have yet to agree on the terms of a binding scheme implementation agreement, according to a statement from Santos. The ADNOC consortium, which also includes Abu Dhabi Development Holding Company (ADQ) and private-equity firm Carlyle, cited the need for further due diligence and regulatory clearances from authorities in Australia, Papua New Guinea and the United States. Santos said it will defer publication of its half-year earnings to 25 August to give investors updated guidance on the transaction’s progress. Santos shares fell as much as 3.5% to A$7.68 in Sydney trading, their lowest level in more than five weeks, markedly underperforming the broader S&P/ASX 200 index. The company added that talks remain collaborative but warned that completion could take longer than the four-week extension if outstanding approvals and negotiations are not concluded within that window.