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SDRL - Seadrill Partners LLC Files for Initial Public Offering

September 24, 2012 - HAMILTON, BERMUDA

Seadrill Partners LLC ("SeadrillPartners") announced today that it has filed a registration statement with theU.S. Securities and Exchange Commission (the "SEC") for an initial publicoffering of Seadrill Partners' common units. Seadrill Partners has applied tolist its common units on The New York Stock Exchange under the symbol "SDLP".

Seadrill Partners was formed by Seadrill Limited to own, operate and acquireoffshore drilling rigs under long-term contracts. Seadrill Partners' initialfleet will consist of two semi-submersible rigs (West Capricorn and WestAquarius), one drillship (West Capella) and one tender rig (West Vencedor).

Citigroup will act as the lead bookrunning manager of the offering.

The offering of the common units will be made only by means of a prospectus. Awritten prospectus meeting the requirements of Section 10 of the SecuritiesActof 1933, when available, may be obtained from the offices of Citigroup GlobalMarkets, Inc., Attention: Prospectus Department, Brooklyn Army Terminal,140 58th Street, 8th Floor, Brooklyn, NY 11220,, Telephone: 800-831-9146.

A registration statement relating to these securities has been filed with theSEC but has not yet become effective. The securities may not be sold, nor mayoffers to buy be accepted, prior to the time the registration statementbecomeseffective. This news release does not constitute an offer to sell or thesolicitation of an offer to buy any securities issuable pursuant to theregistration statement, nor will there be any sale of these securities in anystate or jurisdiction in which such offer, solicitation or sale would beunlawful prior to registration or qualification under the securities laws ofanysuch state or jurisdiction.

The statements in this press release that are not historical facts may beforward-looking statements. Such forward looking statements, based upon thecurrent beliefs and expectations of Seadrill Partners' management, are subjectto risks and uncertainties, which could cause actual results to differ fromtheforward looking statements. The information set forth herein should be read inlight of such risks. Seadrill Partners does not assume any obligation toupdatethe information contained in this press release.

This information is subject of the disclosure requirements pursuant to section5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by Thomson Reuters on behalf ofThomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Seadrill Limited via Thomson Reuters ONE


Media contact
Rune Magnus Lundetrae
Chief Financial Officer
Seadrill Management AS
+47 51 30 91 26

Analyst contact
Ragnvald Kavli
Investor Relations Manager
Seadrill Management AS
+47 51 30 96 27


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