SDRL - Seadrill received letter of award for deepwater semi-submersible

Hamilton, Bermuda, April 30, 2012 - Seadrill has received a letter of award for a new three-year contract for a semi-submersible for operations offshore West Africa with a reputable oil company, contract starting second quarter 2013.

The total potential contract revenue based on 97 percent utilization is estimated to approximately US$710 millions and includes a performance bonus arrangement. The letter of award is subject to final approval by the charterers Board  to be lifted no later than May 16.
 
Seadrill's total order backlog is after this increased to approximately US$13.3 billion.

Contact

Alf C Thorkildsen
Chief Executive Officer
Seadrill Management AS
+47 51 30 99 19

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