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SEVAN DRILLING ASA: RECEIPT OF REQUEST FOR EGM

Following its acquisition of 28.5% of the shares in Sevan Drilling ASA, Sevan Drilling ASA has received a request from Seadrill Limited that an extraordinary general meeting in Sevan Drilling ASA is convened for the purpose of electing a new board of directors reflecting the new shareholder base.

A notice for such extraordinary general meeting together with proposed agenda items and resolutions will be resolved and distributed by the board of Sevan Drilling ASA in due course.

The information in this announcement is subject to the disclosure requirements of the Norwegian Securities Trading Act section 5-12 and/or the Oslo Børs - Continuing Obligations.

Sevan Drilling ASA is an international offshore drilling contractor specializing in the ultra deepwater segment. Sevan Drilling ASA is listed on Oslo Axess.

For further information, please contact:
Scott Kerr, CEO, Sevan Drilling ASA
+47 99283890 mobile

Jon H. Wilmann, CFO, Sevan Drilling ASA
+47 64001847 office
+47 90560406 mobile

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