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Seadrill Limited: SDRL - North Atlantic Drilling Ltd. Announces Agreement with Jurong Shipyard

Hamilton, Bermuda, December 3, 2015
- North Atlantic Drilling Ltd. ("NADL" or "the Company") announces today that
a standstill agreement effective until June 2016 has been reached with Jurong
Shipyard ("Jurong") for the delivery of the sixth generation harsh
environment semi-submersible drilling rig, the West Rigel (the "Unit").

During the standstill period until June 2016, NADL will continue to market the
Unit for an acceptable drilling contract and the Unit will remain at the
Jurong Shipyard in Singapore. Jurong and NADL can also consider other
commercial opportunities for the Unit during this period.

In the event no employment is secured and no alternative transaction is
completed when the standstill period concludes, NADL and Jurong have agreed
to form a Joint Asset Holding Company for joint ownership of the Unit to be
owned 23% by NADL and 77% by Jurong. NADL will continue to market the Unit
for the Joint Asset Holding Company.

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


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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