Seadrill Limited — Board/Management Information 2014

Jul 28, 2014

SDRL -Disclosure of Large Shareholdings

SDRL -Disclosure of Large Shareholdings

Hamilton, Bermuda, July 28, 2014 - Tor Olav Trøim has been employed by the

Seatankers Group on a full time basis since 1995. Mr Trøim has, during this

period, been an instrumental force in assisting the Seatankers Group in the

transformation of Greenwich Holdings Ltd. (the parent in the Seatankers Group)

from a shipping company focused on the tanker industry to a major investment

company with significant direct and indirect holdings in more than 15 public and

private companies covering a variety of industries.

Mr Trøim and the Seatankers Group have, over the last year, discussed how to

organise their cooperation going forward. The background for this is that Mr

Trøim wishes to focus his resources on fewer investments, primarily by spending

more of his time developing Golar LNG Ltd. into a leading integrated LNG

provider in the rapidly changing and fast growing LNG industry and continuing to

develop Seadrill Limited as the world's preeminent offshore drilling company. It

has been agreed, between Mr Trøim and the Seatankers Group, that Mr Trøim will

leave his full time position with the Seatankers Group effective as of July

31, 2014 and thereafter provide independent investment and advisory services to

the Seatankers Group. The purpose of this agreement is to continue to make

Mr Trøim's resources available to Seatankers in order to assist with the

continued development and growth of Seadrill and Golar, including their listed

subsidiaries and affiliated companies.

Mr Trøim will continue as Vice Chairman in Golar LNG Ltd. and Seadrill Ltd. He

will also continue as Chairman of the board in Golar LNG Partners LP and

Seadrill Partners LLC. In addition Mr Trøim will remain an ordinary Board member

in SapuraKencana Petroleum Berhad and Archer Limited. He is furthermore expected

to join the board of directors of North Atlantic Drilling Ltd.

Tor Olav Trøim and John Fredriksen say in a joint comment: "We have enjoyed 19

years of cooperation and are both pleased with the achievements we have made

during this period. We look forward to continuing our successful partnership,

albeit in a different format in the future."

Mr Trøim wants to give a separate thank you to John Fredriksen for the

opportunity he was given when he was hired by the Seatankers Group in 1995 and

also for the dynamic working relationship and freedom he has enjoyed in his

position. "It has been a pleasure to work with great colleagues and some of the

best management teams in the world to develop industry leading companies within

the Shipping, Offshore and Salmon industry." Mr Trøim says.

Mr Trøim has, in connection with the change of role, today acquired 3,000,000

shares in Golar LNG and 2,000,000 shares in Seadrill from World Shipholding and

Hemen Holding.

Hemen Holding Ltd's affiliated ownership in Seadrill following this transaction

is 113,097,583 shares. In addition, Hemen Holding holds TRS agreements, with

exposure to 3,900,000 shares and Famatown owns call options over 2,023,465

shares. Mr Trøim's direct and indirect holding in Seadrill Limited following

this transaction is 2,635,000 shares. In addition Mr Trøim holds call options

over 1,011,732 shares and TRS agreements with exposure to totally 600,000 shares

in Seadrill Limited.

FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking statements concerning future

events and Seadrill's operations, performance and financial condition. Forward-

looking statements include, without limitation, any statement that may predict,

forecast, indicate or imply future results, performance or achievements, and may

contain the words "believe", "anticipate", "expect", "estimate", "project",

"will be", "will continue", "will likely result", "plan", "intend" or words or

phrases of similar meanings. These statements involve known and unknown risks

and are based upon a number of assumptions and estimates that are inherently

subject to significant uncertainties and contingencies, many of which are beyond

Seadrill's control. Actual results may differ materially from those expressed or

implied by such forward-looking statements.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1840755]