SOURCE: Seadrill Limited

April 28, 2008 16:02 ET

SDRL - New Four-Year Contract for Tender Rig in Malaysia

HAMILTON, BERMUDA--(Marketwire - April 28, 2008) - Seadrill has been awarded a four-year contract by Petronas Carigali Sdn Bhd in Malaysia with immediate commencement for the self-erecting tender rig Teknik Berkat, in which Seadrill has a 49 percent ownership interest. The estimated contract value is approximately US$182 million. The agreement includes early termination and immediate release of Teknik Berkat from the current contract with CarigaliHess.

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

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

Seadrill Limited
Hamilton, Bermuda
April 28, 2008

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