Seadrill Limited - M&A Activity 2019

SDRL - Qatar Petroleum and Gulf Drilling International

Hamilton, Bermuda, May 1, 2019 - Seadrill Limited ("Seadrill" or the "Company")

refers to the announcement by Gulf International Services, which makes reference

to Seadrill, made in connection with the award of 6 drilling contracts by Qatar

Petroleum to Gulf Drilling International Ltd (GDI).

Seadrill has an existing Strategic Cooperation Agreement (SCA) with GDI under

which one rig is currently operating in Qatar. The Company is working with GDI

to finalize an agreement to provide up to 5 additional Jack-up rigs under the

terms of the SCA.

The Company believes this is an attractive opportunity that will further

strengthen the relationship between the parties. A further announcement will be

made once the agreement has been finalized.

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, the markets in which it operates and its restructuring efforts. 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.

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