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SDRL - Extension of non-binding agreement with SapuraKencana

HAMILTON, BERMUDA -- (Marketwire) -- 01/21/13 -- Reference is made to the press release dated November 5 , 2012, regarding a non-binding agreement for integrating Seadrill's tender rig business into SapuraKencana Petroleum Bhd. Seadrill and SapuraKencana have made solid progress in the first part of the due diligence and have agreed to extend the validity period of the agreement to February 8, 2013, to facilitate the ongoing finalization of the due diligence and negotiations for the terms of the sale agreement and related transaction agreement(s) in relation to the proposed transaction.

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#1671700]

Media contact
Rune Magnus Lundetrae
Chief Financial Officer
Seadrill Management AS
+47 51 30 91 26

Analyst contact
Ragnvald Kavli
Investor Relations Manager
Seadrill Management AS
+47 51 30 96 27

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