Seadrill Limited - AGM Information 2014

Sevan Drilling ASA: Annual General Meeting - Nomination Committee proposal

Reference is made to the notice of 28 May 2014 for the annual general meeting of

Sevan Drilling ASA, to be held on Thursday 19 June 2014 at 2.00 pm (CET).

As follows from the notice under agenda item 9 (Appointment of Board Members),

the nomination committee would prior to the general meeting present a proposal

for a new board member.

The nomination committee's proposal is now finalized, and the committee proposes

that Ragnhild M. Wiborg is appointed as replacement director to the board.

Ragnhild M. Wiborg has long experience from fund management in both the

Norwegian and Swedish financial markets, and serves as directors of the boards

of companies such as IM Skaugen SE, REC Silicon ASA, REC Solar ASA, EAM Solar

ASA and Borregaard ASA. She has a Bachelor of Science in Economics (Civilekonom

) with a major in International Business from the Stockholm School of Economics

and Business Administration, as well as education from Sorbonne University.

The nomination committee has further proposed some adjustments to proposed board

and nomination committee remunerations as follows: board remuneration to be

payable quarterly in arrears and to include NOK 30,000 for service on audit

committee, and nomination committee remuneration to be reduced to NOK 5,000. The

complete proposal of the nomination committee will be accessible on the

company's web site, www.sevandrilling.com, and further presented at the annual

general meeting.

For further information, please contact:

Scott McReaken, CEO, Sevan Drilling ASA

+47 91194651 mobile

About Sevan Drilling:

Sevan Drilling ASA is an international offshore drilling contractor specializing

in the ultra deepwater segment. Sevan Drilling ASA is listed on Oslo Børs.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1793836]

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