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.

Alf C Thorkildsen, Chief Executive Officer in Seadrill Management AS, says in a comment, "After several months in transit from Singapore, we are excited to have started our first deepwater operations in the Gulf of Mexico. This is an important milestone for our Company as West Sirius is the first out of eight deepwater units to be delivered this year, to commence operations. This is also our first assignment for Devon Energy and we look forward to a close co-operation with them over the coming six years."

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

Media contact: Trond Brandsrud, Chief Financial Officer, Seadrill Management AS +47 51 30 99 19

Seadrill Limited Hamilton, Bermuda July 25, 2008

Seadrill Limited

http://www.seadrill.bm

ISIN: BMG7945E1057

Stock Identifier: XOSL.SDRL