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SDRL - Extension Of Drilling Contract For West Sirius

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

Devon Energy has exercised the option to extend the contract for West Sirius from four to six years. Estimated contract value for the full six-year period is approximately US$1,025 million including escalation from initial contract award up to present date.

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

Media contact: Alf C Thorkildsen Chief Executive Officer Seadrill Management AS +47 51 30 99 19

Seadrill Limited Hamilton Bermuda June 27, 2008

Seadrill Limited

http://www.seadrill.bm

ISIN: BMG7945E1057

Stock Identifier: XOSL.SDRL

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