SDRL - Seadrill sells the jack-up rig West Janus

Hamilton, Bermuda, June 21, 2011 - Seadrill has entered into an agreement to
sell the 1985 built jack-up drilling rig West Janus to Harrington LLC in Dubai
for a total consideration of US$73 million.
 
Seadrill expects to record a gain on the sale in excess of US$50 million on
closing. Closing of the agreement and the transfer of ownership of the unit is
scheduled upon completion of the rig's present drilling assignment in the second
half of 2011.
 
Seadrill's fleet of jack-up rigs remains the world largest modern jack-up fleet
with a total of 19 units built after 2006, including rigs under construction.
Furthermore, Seadrill has options for construction of six further units at
attractive prices.
 
Alf C Thorkildsen, CEO of Seadrill Management AS says, "We remain optimistic
about the market outlook for premium jack-up rigs, and at the same time continue
to highgrade our fleet by disposing some older units and further reduces the
average age of the modern Seadrill jack-up fleet to 2.6 years, whilst adding new
rigs to it. The disposal of West Janus is in line with our strategy of focusing
our company on modern, premium offshore drilling units."
 
Contact:
Esa Ikäheimonen
Chief Financial Officer
Seadrill Management AS
+47 51 30 99 19
 
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Seadrill Limited via Thomson Reuters ONE
 
[HUG#1524813]