SOURCE: Seadrill Limited

June 27, 2008 06:14 ET

SDRL - Extension of drilling contract for West Sirius

HAMILTON, BERMUDA--(Marketwire - June 27, 2008) -

Reference is made to the previously agreed contract awarded by Devon Energy for the deepwater semi-submersible drilling rig West Sirius.

Devon Energy has exercised the option to extend the contract for West Sirius from four to six years. Estimated contract value for the full six-year period is approximately US$1,025 million including escalation from initial contract award up to present date.

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

Media contact:
Alf C Thorkildsen
Chief Executive Officer
Seadrill Management AS
+47 51 30 99 19

Seadrill Limited
Hamilton Bermuda
June 27, 2008

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