Seadrill Limited - Capital/Financing Update 2016

SDRL - North Atlantic Drilling Ltd. announces amendment to agreement with Jurong Shipyard

Hamilton, Bermuda, June 7, 2015 - North Atlantic Drilling Ltd. ("NADL" or "the

Company") refers to the press release on December 3, 2015 which announced a

standstill agreement for delivery of the semi-submersible drilling unit, the

West Rigel ("the Unit").

Today the Company announces a second amendment has been agreed with Jurong

Shipyard Pte. Ltd. ("Jurong"), which extends the standstill period by a further

three months to September 2, 2016. The extension of the standstill period allows

the parties to continue to explore commercial opportunities for the Unit. In the

event no employment is secured for the Unit and no alternative transaction is

completed, the Company and Jurong will form a Joint Asset Holding Company for

joint ownership of the Unit, to be owned 23% by the Company and 77% by Jurong.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are

generally not historical in nature, and specifically include statements about

the Company's plans, strategies, business prospects, changes and trends in its

business and the markets in which it operates. These statements are made based

upon management's current plans, expectations, assumptions and beliefs

concerning future events impacting the Company and therefore involve a number of

risks, uncertainties and assumptions that could cause actual results to differ

materially from those expressed or implied in the forward-looking statements,

which speak only as of the date of this news release. Consequently, no forward-

looking statement can be guaranteed. When considering these forward-looking

statements, you should keep in mind the risks described from time to time in the

Company's filings with the Securities and Exchange Commission, including its

Annual Report on Form 20-F (File No. 001-34667). The Company undertakes no

obligation to update any forward looking statements to reflect events or

circumstances after the date on which such statement is made or to reflect the

occurrence of unanticipated events. New factors emerge from time to time, and it

is not possible for the Company to predict all of these factors. Further, the

Company cannot assess the impact of each such factor on its business or the

extent to which any factor, or combination of factors, may cause actual results

to be materially different from those contained in any forward looking

statement.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act

[HUG#2018413]

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