Hamilton, Bermuda, May 10, 2013 - We refer to the press releases dated January 30, 2013 and February 7, 2013 which announced the forward agreements for Seadrill Limited's ("Seadrill") holdings in Sevan Drilling ASA ("Sevan") shares.

We have rolled forward these agreements subsequent to the prior agreements' expiration.

Seadrill has entered into a forward agreement for 96,000,000 Sevan shares expiring August 6, 2013 with a strike price of NOK 4.02.

Additionally, Seadrill has entered into a forward agreement for 81,828,500 Sevan shares expiring August 6, 2013 with a strike price of NOK 4.01.

As previously disclosed, Seadrill will not directly hold any shares in Sevan, but will be exposed through forward agreements to 177,828,500 shares, or 29.9 percent of Sevan's outstanding shares.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.