Hamilton, Bermuda (November 2, 2010)

Mr. Alf C. Thorkildsen, CEO of Seadrill Management AS, has, effective yesterday, resigned from the board of Seawell Limited. The board has, as his substitute, appointed Mr. Fredrik Halvorsen to the board. Mr. Halvorsen’s election will be put to Seawell Limited’s shareholders in the next general meeting of the company for confirmation.

Mr. Halvorsen has previously worked for Tandberg ASA and McKinsey & Co. in Southeast Asia. Mr. Halvorsen is currently employed by Frontline Corporate Services Ltd.

Alf C. Thorkildsen will continue to be available to the Company in a function as an alternate director. Mr. Thorkildsen is the CEO of Seadrill Management AS.

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