SEAW - Olivier Muller appointed CEO of C6 Technologies AS

Hamilton, Bermuda (December 13, 2010)

Seawell is pleased to announce that the Board of C6 Technologies AS has

appointed Olivier Muller as Chief Executive Officer of the joint venture

company, effective January 17, 2011.

Seawell Limited and IKM Gruppen announced April 30, 2010, the launch of C6

Technologies; a 50/50 joint venture oilfield company offering a step-change in

well intervention technology. C6 Technologies will develop and manufacture

advanced well intervention technology products and integrated intervention

systems based on composite cable technology. C6's portfolio will include next-

generation deployment systems and a range of down hole tools for integrated well

intervention operations both on- and offshore.

Olivier Muller (43) is a French citizen with an international career in

Schlumberger and Areva. His experience includes 18 years in Schlumberger as

amongst other Vice President of the global perforation business including R&E

and manufacturing, General Manager of oilfield operations in North Africa and

General Manager for wireline operations in Scandinavia. His latest position is

Vice President and General Manager of the Areva mining business in Niger,

Africa.

"We are very pleased to announce the appointment of Olivier Muller as CEO of our

C6 Technologies joint venture with IKM. His experience in managing a global

wireline and well intervention business, with both engineering and manufacturing

experience will be important for the future success of the breakthrough

technology the composite cable represents", says Jørgen Peter Rasmussen,

Chairman of C6 Technologies Board of Directors. "I have no doubt he will make a

significant contribution to the products and services to be developed over the

next few years, as we roll out the new way of doing well intervention".

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1471924]

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