Seadrill Limited - Major Shareholding Notification 2015

SDRL - Disclosure regarding Sevan Drilling ASA

(This is a copy of announcement from Seadrill

Limited, 09.02.2015 at 10:27 hours.)

Hamilton, Bermuda, February 9, 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 and November 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 May 6, 2015 with a

strike price of NOK 0.7249.

Additionally, Seadrill has entered into a forward

agreement for 81,828,500 Sevan shares expiring May 6,

2015 with a strike price of NOK 0.72460.

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#1892815]

AI assistant