SDRL - Lapse of put option for North Atlantic Drilling shareholders

Hamilton, Bermuda, April 15, 2011 - Reference is made to the press release on April 3, 2011 where Seadrill announced that the dispoal of the its harsh environment drilling activities to North Atlantic Drilling Ltd, in which Seadrill owns 75%, was successfully completed. The right for North Atlantic Drilling's shareholders to put their North Atlantic Drilling shares to Seadrill at the original issue price of US$1.70 per share lapsed on April 14, 2011 at 16:30 (CET) without any shares being put back to Seadrill. Analyst contact Jim Dåtland VP Investor Relations Seadrill Management AS +47 51 30 99 19  Media contact Esa Ikäheimonen CFO 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. 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. Source: Seadrill Limited via Thomson Reuters ONE [HUG#1506837]