SDRL- MLP and Seabras update
Hamilton, Bermuda, April 16, 2011 - Seadrill Limited (the "Company") announced in the fourth quarter 2011 report and presentation that it considers a separate listing of its Brazilian deepwater operations ("Seabras") and the opportunity for establishing a master limited partnership structure (MLP). The Board of Seadrill sees the establishment of a MLP as an important step forward in order to lower future financing costs and to increase dividend capacity. Seabras has completed the necessary corporate restructuring and received the required consents from Petrobras. Given the large