Hamilton, Bermuda, August 17, 2010 - The Seadrill Limited subsidiary Seawell Limited has completed the NOK2,654 million (~US$432 million) private placement at NOK23.0 (~US$3.7) per share that was announced yesterday. Seadrill has been allocated 34.9 million shares and has as such increased its holding to 116.1 million shares equivalent to 51.5 percent of the outstanding shares in Seawell. Seawell will following the private placement repay NOK825 million (~US$134 million) to Seadrill in intercompany debt. This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act) [HUG#1438453] This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction for further distribution is prohibited. Source: Seadrill Limited via Thomson Reuters ONE