SDRL - Changes to the Board of Directors

Hamilton, Bermuda, October 27, 2014 - Seadrill Limited ("Seadrill" or "the Company") announces today that Carl Erik Steen has resigned from the Board of Directors with immediate effect.  The board would like to thank Mr Steen for his services as a director and wish him well in all his future endeavors.

The Board of Directors has appointed Mr. Ørjan Svanevik to fill the vacant position and he will join the Board today.  Mr. Svanevik is an employee of the Seatankers Group.  He was previously Managing Director for the investment advisory firm, Oavik Capital.  Prior to Oavik, he was Head of M&A and a Partner at Aker ASA, and COO and EVP of Kværner ASA.  Svanevik also worked nearly a decade in corporate advisory and investment banking.  He started his career at Schlumberger, where he held various international financial management positions.  Svanevik has an AMP from Harvard Business School and a MBA from Thunderbird.


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