Rasmussen Elected Executive Chairman of Seawell Limited

Mr. Joergen Peter Rasmussen (48) has been elected Executive Chairman of the Board of the newly established company Seawell Limited.

Mr. Rasmussen has 25 years of experience in the petroleum industry, mainly with Schlumberger Oilfield Services. He has held various senior management positions in Schlumberger in Europe, Asia, Africa and the USA. He was Managing Director and Chairman of Schlumberger Norway and Denmark in the period from 1998 to 2001.

Kjell E. Jacobsen, Chief Executive Officer of Seadrill Management AS, said, "We are pleased to have Mr. Rasmussen heading Seawell Limited. With his background and experience from a leading international service company he was our first choice for taking on the responsibility of establishing Seadrill's well services activity as a separate entity with the ambition of growing a large international well services company."

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