Abu Dhabi National Oil Company (ADNOC) via Investment Unit XRG-Led Investor Group Makes Offer to Buy Australia Oil & Gas Company Santos for $18.7 Billion Representing +28% Premium to Closing Price (13/6/25), Joint Offer with Abu Dhabi Development Holding Company (ADQ) & Private Equity Firm Carlyle Group, Santos Founded in 1954 by Bob Bristowe & John Bonython
17th June | Hong Kong
Abu Dhabi National Oil Company (ADNOC) via investment unit XRG-led investor group has made an offer to buy Australia oil & gas company Santos for $18.7 billion, representing +28% premium to closing price (13/6/25). The ADNOC XRG-led investor group $18.7 billion offer, is a joint offer with Abu Dhabi Development Holding Company (ADQ) & private equity firm Carlyle Group. Santos was founded in 1954 by Bob Bristowe & John Bonython. Profile – Santos provides reliable, affordable energy for progress and seeks to provide lower carbon energy over time. Santos is a global energy company with operations across Australia, Papua New Guinea, Timor-Leste and the United States. At Santos, our goal is to be a global leader in the energy evolution to low-carbon fuels that help the world decarbonise and continue to provide the reliable, affordable energy the world needs for modern life and human progress. Santos is an important Australian domestic gas supplier and LNG supplier in Asia. We are committed to supplying critical fuels such as oil and gas, and abating emissions through carbon capture and storage, energy efficiency projects, use of renewables in our operations and high-quality offsets. Santos will also seek to develop low-carbon fuels as customer demand evolves. For 70 years, Santos has been working in partnership with local communities, providing jobs and business opportunities, safely developing natural gas resources and from there powering industries and households. Santos seeks to deliver long-term value to shareholders through our diverse portfolio of high-quality, long-life, low-cost oil and gas assets, carbon storage resources and infrastructure. The Santos portfolio is value accretive and resilient across a range of decarbonisation scenarios. Santos has a climate transition action plan that will continue to evolve for the global energy evolution. Santos has a regional operating model with a strong local focus. The Company’s operating structure comprises three regional business units focused on enabling and executing corporate strategy. Two divisions – Santos Energy Solutions and Santos Upstream Gas and Liquids – are accountable for global portfolio management and strategy.
“ Abu Dhabi National Oil Company (ADNOC) via Investment Unit XRG-Led Investor Group Makes Offer to Buy Australia Oil & Gas Company Santos for $18.7 Billion Representing +28% Premium to Closing Price (13/6/25), Joint Offer with Abu Dhabi Development Holding Company (ADQ) & Private Equity Firm Carlyle Group, Santos Founded in 1954 by Bob Bristowe & John Bonython “
Abu Dhabi National Oil Company (ADNOC) via Investment Unit XRG-Led Investor Group Makes Offer to Buy Australia Oil & Gas Company Santos for $18.7 Billion Representing +28% Premium to Closing Price (13/6/25), Joint Offer with Abu Dhabi Development Holding Company (ADQ) & Private Equity Firm Carlyle Group, Santos Founded in 1954 by Bob Bristowe & John Bonython
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