Seadrill Limited

Seadrill Limited Yesterday, the ultra-deepwater semi-submersible rig West Sirius commenced operations for Devon Energy in the Gulf of Mexico. West Sirius, which was delivered from Jurong Shipyard in Singapore on March 31 this year, arrived in the Gulf of Mexico earlier this month and has since arrival been finalizing commissioning and acceptance work for the operator. West Sirius has a six-year contract with Devon Energy for operations in the Gulf of Mexico. Start-up of operations is in line with the original start-up schedule on the contract. For the mobilization period, Seadrill will receive a dayrate element and compensation for fuel costs, which will be taken to income over the six-year contract term.

Seadrill Limited Seadrill is pleased to report the delivery of the ultra-deepwater drillship West Polaris from Samsung Heavy Industries. The drillship will leave Korean waters tomorrow after completing fuelling and some general mobilisation activities en route to its first drilling assignment for Exxon in Brazil. West Polaris was delivered 10 days after original contract schedule with a final project cost as previously reported. West Polaris has a four-year contract for worldwide exploration activities for Exxon. Exxon will pay Seadrill a pre-agreed dayrate for the transit period in addition to fuel.

Seadrill Limited

Seadrill Limited Seadrill Limited has closed previous forward contacts for 8,100,000 shares in Scorpion Offshore Ltd and simultaneously entered into a forward contract for the equivalent number of shares with due date on December 19, 2008. Following these transactions, Seadrill controls 22,168,692 shares (of which 19,494,700 shares related to forward contracts) corresponding to 37.2 percent of the outstanding shares.

Seadrill Limited Reference is made to the previously agreed contract awarded by Devon Energy for the deepwater semi-submersible drilling rig West Sirius.

Seadrill Limited Reference is made to the stock exchange notice dated June 23, 2008 regarding the mandatory notification of trade and the expiry of the acceptance period for the mandatory offer set forth by Seadrill Limited for all outstanding shares in Scorpion Offshore Ltd.

Seadrill Limited In connection with the Company's Employee Share Ownership Plan (ESOP), Seadrill Limited has sold 8,300 Seadrill shares at strike price NOK83.74 per share. The Company's holding of own shares after the transactions is 869,400 shares.

Seadrill Limited Reference is made to the mandatory offer set forth by Seadrill Limited for all outstanding shares in Scorpion Offshore Ltd. and our offer document dated 23 May 2008. Seadrill has currently registered acceptances for a total of 12,477 shares in Scorpion, which constitutes 0.02% of the share capital in Scorpion. Consequently, Seadrill, including shares on forward contracts, controls 36.02% of the shares in Scorpion.

Seadrill Limited On June 18, 2008, Seadrill Limited closed previous forward contacts for 11, 394,700 shares in Scorpion Offshore Ltd and simultaneously entered into a forward contract for the equivalent number of shares with due date on December 18, 2008. Following these transactions, Seadrill controls19,494,700 shares corresponding to 36.0 percent of the outstanding shares.

Seadrill Limited Hemen Holdings Ltd, a company indirectly controlled by Seadrill's Chairman John Fredriksen, has settled a TRS agreements expiring June 10 and subsequent entered into a new TRS agreement with exposure to the same number of Seadrill underlying shares 200,000. New expiry date is December 11, 2008, and new TRS price is NOK163.54.