Hamilton, Bermuda, August 13, 2010 - Seadrill's majority owned subsidiary
Scorpion Offshore Ltd. has received a binding Letter of Agreement for a two well
firm plus two optional wells contract for Offshore Vigilant in Venezuela with
Cardon IV S.A. Firm contract duration is estimated to 240 days with an option
for extension of approximately 240 further days. Contract value for the firm
period is approximately US$37.2 million. A one well new contract has been signed
for Offshore Resolute in Vietnam. Contract duration is estimated to 55 to 70
days and the contract value is approximately US$5.8 to 7.4 million.

Seadrill has also secured a contract with Premier Oil in Indonesia for the
newbuild jack-up West Callisto. The program in the Natuna Sea has an anticipated
firm duration of around 230 days with options for extension of approximately
180 further days. Contract value for the firm part is estimated at US$27.4
million.

In addition, Seadrill has been awarded an assignment with PT PAN (P.T.
Pertalahan Arnebatara Natuna) in Indonesia for the newbuild jack-up West Leda.
The contract value for the 90 day firm operating period is estimated to be
US$12.4 million.

Both West Callisto and West Leda will subsequent to some mobilization related
activities relocate directly from the yard and start operations under their new
assignments, meeting customer's needs in terms of rig delivery.

Alf C Thorkildsen, Chief Executive Officer in Seadrill Management AS, says, "The
placement of these rigs, representing a total of some US$84 million, is a
milestone achievement in Seadrill's strategy of becoming the leading provider of
ultra-modern jack-ups world wide. These contracts further underline the
importance of our recent acquisition of Scorpion Limited, adding earnings
visibility at what we believe are competitive terms and conditions.


Contact:
Jim Dåtland
Vice President Investor Relations
Seadrill Management AS
+47 51 30 99 19


This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


[HUG#1437889]








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Source: Seadrill Limited via Thomson Reuters ONE