Seadrill Limited - Major Shareholding Notification 2015

SDRL - Disclosure regarding Sevan Drilling ASA

(This is a copy of announcement from Seadrill Limited

published 07.05.2015 at 09:11 hours local time)

Hamilton, Bermuda, May 7, 2015 - 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, February 7, 2014, May 7, 2014,

August 7,2014, November 7, 2014 and February 9, 2015

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 10, 2015

with a strike price of NOK 0.6247.

Additionally, Seadrill has entered into a forward

agreement for 81,828,500 Sevan shares expiring August

6, 2015 with a strike price of NOK 0.6243.

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#1919669]

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