SDRL - Seadrill - Changes to Board composition

SDRL - Seadrill - Changes to Board composition

ID: 50127

(Thomson Reuters ONE) -


Hamilton, Bermuda, December 30, 2010 - Mr. Kjell E Jacobsen has served notice
that he would like to retire from the Board of Seadrill Limited effective from
December 31, 2010.

Mr. Jacobsen started to work for offshore drilling company Smedvig in 1991 and
was the Company's CEO from end of 2001 to 2006. In 2006, Mr. Jacobsen was
instrumental in order to facilitate the successful integration between Seadrill
Limited and Smedvig asa and became CEO of Seadrill Management AS. He retired as
CEO of Seadrill Management AS in 2008, but remained a highly valuable Board
member. Mr. Jacobsen is currently a partner in the energy focused private equity
group Energy Ventures.

Chairman John Fredriksen says in a comment: We want to thank Kjell E Jacobsen
for his solid contribution to the Seadrill story. He developed in his former
position as CEO a truly professional and highly competent organization with
focus on meeting clients' requirements. He has in his later role as director
been a very competent Board member with his in-depth knowledge of the drilling
industry.

The Board wishes Kjell E Jacobsen all success in his future ventures.

The Board has nominated Mr. Carl Erik Steen to fill the vacancy on the Board
created by the retirement of Kjell E Jacobsen. Mr. Steen is currently Head of
Shipping, Oil Service and International Business in largest Nordic bank, Nordea.
Mr. Steen will take up his directorship in February 2011 after retiring from his
current position in Nordea. Mr. Steen, who is graduated as M.sc in Industrial
Management Engineering from ETH in Zurich, is 59 years and resides in Oslo.

Chairman John Fredriksen says: We are honored that Carl Erik Steen has accepted
a directorship in Seadrill. Mr. Steen is well familiar with our Company and has
extensive knowledge about the offshore industry in general. We are convinced




that Mr. Steen will be a valuable addition to our Board.



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






This announcement is distributed by Thomson Reuters on behalf of
Thomson 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

[HUG#1476294]


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Bereitgestellt von Benutzer: hugin
Datum: 30.12.2010 - 14:27 Uhr
Sprache: Deutsch
News-ID 50127
Anzahl Zeichen: 2815

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