SDRL - Disclosure regarding Sevan Drilling Limited

Hamilton, Bermuda, August 11, 2015 - We refer to the press release dated July 1, 2015 which announced the forward agreements for Seadrill Limited's ("Seadrill") holdings in Sevan Drilling Limited ("Sevan") shares.

We rolled over one of these agreements on August 7, 2015.

We have rolled forward the remaining agreement subsequent to its expiration.

Seadrill has entered into a forward agreement for 10,803,274 Sevan Drilling Limited shares expiring November 6, 2015 with a strike price of NOK 8.9482.

Seadrill controls 14,897,068 shares of Sevan, either through direct ownership or forward agreements, representing 50.11% of all issued shares of Sevan.

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