Seadrill Limited - Major Shareholding Notification 2014

SDRL - Disclosure regarding Sevan Drilling ASA

Hamilton, Bermuda, May 7, 2014 - We refer to the press releases dated January

30, 2013, February 7, 2013, May 10, 2013, August 7, 2013, August 29, 2013,

November 7, 2013 and February 7, 2014 which announced the forward agreements for

Seadrill Limited's ("Seadrill") holdings in Sevan Drilling ASA ("Sevan") shares.

We have rolled forward these agreements subsequent to the prior agreements'

expiration.

Seadrill has entered into a forward agreement for 216,065,464 Sevan shares

expiring August 6, 2014 with a strike price of NOK 4.1056.

Additionally, Seadrill has entered into a forward agreement for 81,828,500 Sevan

shares expiring August 6, 2014 with a strike price of NOK 4.1348.

Seadrill controls 297,941,358 shares of Sevan, either through direct ownership

or forward agreements, representing 50.11% of all issued shares of Sevan.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1783306]

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