Seadrill Limited : SDRL - Seadrill completes the integration of the tender rig business into SapuraKencana

Seadrill Limited : SDRL - Seadrill completes the integration of the tender rig
                         business into SapuraKencana

Hamilton, Bermuda, April 30, 2013 - We refer to the press releases dated
November 5, 2012, and February 11, 2013, which announced the transaction to
integrate Seadrill Limited's ("Seadrill") tender rig division into
SapuraKencana Petroleum Berhad ("SapuraKencana") and the signing of the
conditional Sale and Purchase Agreement ("SPA") between the parties.

Seadrill and SapuraKencana have today completed the previously announced
transaction pursuant to the conditional SPA.

The agreed upon acquisition price is for an enterprise value of US$2.9
billion, which includes cash, SapuraKencana shares, all debt in the tender rig
business, and Seadrill's future capital commitments for newbuilds.

The incremental 400.8 million shares received by Seadrill today bring
Seadrill's equity holding to approximately 12 percent of the outstanding
shares of SapuraKencana. At today's closing share price of RMB3.18, Seadrill's
total shareholding will have a gross value of approximately US$753 million. In
addition, John Fredriksen, Chairman of Seadrill Limited, is a nominee to the
Board of Directors of SapuraKencana.

John Fredriksen, Chairman, President and Director of Seadrill says in a
comment, "We are pleased to have completed this important transaction with our
long-term partner, SapuraKencana. We look forward to support the integration
of the tender rig fleet in order to facilitate a smooth and orderly transition
for the customers. This transaction will free up significant financial
flexibility for Seadrill, and the proceeds will as previously stated be used
over time to continue to aggressively grow our modern ultra-deepwater and
jack-up exposure."

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



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Source: Seadrill Limited via Thomson Reuters ONE
HUG#1698152
 
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