Seadrill Limited - Share Issue/Capital Change 2015

Sevan Drilling Ltd: Buy back of shares and new share capital

Bermuda July 2, 2015 - Reference is made to the announcement yesterday regarding

Sevan Drilling Limited's buy back of its shares held by Sevan Drilling ASA for

the purpose of cancellation. Today at 08.00 am Sevan Drilling Limited completed

the buyback acquiring 1,268,543 of its shares from Sevan Drilling ASA at a price

of NOK 10.20 per share.

As announced yesterday the background for the buyback and cancellation is to

ensure that the shareholders participating in the migration of the Sevan Group

from Norway to Bermuda will hold approximately the same relative ownership in

Sevan Drilling Limited after the migration as they have in Sevan Drilling ASA.

After completion of the transactions the share capital of Sevan Drilling Limited

will consist of 29,731,457 shares each having a nominal value of USD 0,10. Sevan

Drilling ASA does not hold any shares in Sevan Drilling Limited after the

transaction.

For further information, please contact:

Scott McReaken, CEO, Sevan Drilling

+47 91194651 mobile

About Sevan Drilling:

Sevan Drilling Limited is an international offshore drilling contractor

specializing in the ultra deepwater segment. Sevan Drilling Limited is listed on

Oslo Børs.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act

[HUG#1933741]

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