Seadrill Limited (OSL:SDRL) Disclosure Regarding Scorpion Offshore Ltd

Seadrill Limited (OSL:SDRL) On December 17, 2008, Seadrill sold 22,192,500 shares in Scorpion Offshore Ltd and simultaneously entered into a forward contract for the equivalent number of shares with due date on June 17, 2009. Following these transactions, Seadrill controls 23,828,092 shares corresponding to 39.6 percent of the outstanding shares.

The total ownership percentage has been calculated based on an issued share capital in Scorpion Offshore Ltd of 60,133,455 shares.

Seadrill Limited Hamilton Bermuda December 17, 2008

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Seadrill Limited

http://www.seadrill.bm

ISIN: BMG7945E1057

Stock Identifier: XOSL.SDRL