SOURCE: Seadrill Limited

January 08, 2008 02:57 ET

SDRL - Share incentive program 2008

HAMILTON, BERMUDA--(Marketwire - January 8, 2008) -



The Board of Seadrill Limited has approved a share incentive program allocating 2,300,000 options to senior management in the Company to acquire shares in Seadrill Limited. The share options were granted on January 7, 2008 and have a strike price of NOK 132.1180 per share. The purpose of the share ownership plan is to promote long-term employment and the term of the options are therefore six years. The options generally vest 1/3 after 18, 30 and 42 months respectively. 330,000 of these options are granted to primary insiders (attached details).

The following Primary Insiders have received share options:

Kate Blankenship      20,000
Jan Tore Strømme      50,000
Kjell E Jacobsen      100,000
Alf C Thorkildsen     100,000
Trond Brandsrud       60,000

New total holdings for the same Primary Insiders are:

                      Shares        Share options
Kate Blankenship       8,000         50,000
Jan Tore Strømme       0             50,000
Kjell E Jacobsen       0             450,000
Alf C Thorkildsen      0             375,000
Trond Brandsrud        0             210,000


Seadrill Limited
January 8, 2008
Hamilton, Bermuda


Seadrill Limited
P.O. Box HM 1593, Par-la-Ville Place, 14 Par-la-Ville Road
HM 08 Hamilton
Bermuda
Tel: +1 441 295 6935
Fax: +1 441 295 3494
http://www.seadrill.bm



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