SDRL - Mandatory notification of trade

Hamilton, Bermuda, February 3, 2011 - Seadrill has settled a Total Return Swap
agreement (TRS) expiring on February 2, 2011 with 2,000,000 common shares in
Seadrill Limited as underlying security. Seadrill has subsequently entered into
a new TRS agreement with exposure to 2,000,000 Seadrill Limited common shares.
The expiry date for the TRS is May 2, 2011 and the reference price is NOK202.726
per share.





This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)



[HUG#1484977]