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2016-01-15

Seadrill Limited: SDRL - Announces Agreement with DSME Shipyard

Hamilton, Bermuda, January 15, 2016
- Seadrill Limited ("SDRL" or "the Company") announces today that an agreement
with DSME shipyard has been reached to defer the delivery of two
ultra-deepwater drillships, the West Aquila and West Libra, until the second
quarter of 2018 and first quarter of 2019 respectively.

Under the terms of the original construction contracts, the units were to be
delivered by the end of the second quarter of 2016 and the total final yard
instalment for both units of over $800 million was due at that time. This
agreement significantly improves the Company's near term liquidity position
by deferring these capex commitments to 2018 and 2019 with no further
payments to the yard until that time.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Seadrill Limited via Globenewswire

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