SDRL - Successful completion of private placement

Hamilton, Bermuda, April 12, 2010 - Seadrill Limited has today successfully

completed a private placement of a total of 12.5 million shares, representing

approximately 3.1% of the issued capital, to a price of NOK151.50 per share.

Gross proceeds amounted to NOK1,894 million (approximately US$322 million).

The share capital of Seadrill, following the completion of the equity issue in

relation to the private placement, amounts to US$824,576,432 represented by

412,288,216 ordinary shares of US$2.00 par value.

The net proceeds from the private placement will be used to part finance the

mandatory offer for Scorpion Offshore, for equity in the potential acquisition

of the CJ70 design jack-up rig, and for further opportunistic expansion of the

Company.

The share issue was led by Carnegie ASA together with Fearnley Fonds ASA and

Pareto Securities AS as joint-lead managers and DnB NOR Markets and Nordea

Markets as co-lead managers.

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1402891]

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