Seadrill Limited - M&A Activity 2015

SDRL - North Atlantic Drilling Ltd. Announces Agreement with Jurong Shipyard

Hamilton, Bermuda, December 3, 2015 - North Atlantic Drilling Ltd. ("NADL" or

"the Company") announces today that a standstill agreement effective until June

2016 has been reached with Jurong Shipyard ("Jurong") for the delivery of the

sixth generation harsh environment semi-submersible drilling rig, the West Rigel

(the "Unit").

During the standstill period until June 2016, NADL will continue to market the

Unit for an acceptable drilling contract and the Unit will remain at the Jurong

Shipyard in Singapore. Jurong and NADL can also consider other commercial

opportunities for the Unit during this period.

In the event no employment is secured and no alternative transaction is

completed when the standstill period concludes, NADL and Jurong have agreed to

form a Joint Asset Holding Company for joint ownership of the Unit to be owned

23% by NADL and 77% by Jurong. NADL will continue to market the Unit for the

Joint Asset Holding Company.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1970997]

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