HAMILTON, Bermuda - January 29, 2024 - Seadrill Limited ("Seadrill" or the
"Company") (NYSE & OSE: SDRL) announces multiple contract awards totalling
approximately $97.5 million in value, in addition to an update on the West
Auriga.

Talos Production Inc. has awarded the West Vela a contract with an estimated
duration of 150 days in the U.S. Gulf of Mexico. The contract is expected to
commence in the third quarter of 2024 and represents a total contract value of
approximately $73.5 million, excluding managed pressure drilling (MPD) services.

The operator of the West Capella exercised a one-well option with the existing
third-party manager, extending its operations by approximately two months. The
contract is in direct continuation of the rig's current program and represents a
total contract value of approximately $24.0 million. 

Seadrill has been advised by the current manager of the West Auriga that the rig
will be released in February 2024 due to changes in their client's drilling
sequence. This enables Seadrill to resume management of the rig in the first
quarter of 2024, accelerate preparation for its previously-announced contract in
Brazil beginning in the second half of 2024, and more quickly achieve synergies
from the 2023 acquisition of Aquadrill.

Simon Johnson, Seadrill's President & Chief Executive Officer, remarked, "It is
a pleasure to extend our contractual relationship with our longstanding client,
Talos Energy. We also look forward to getting Seadrill coveralls back onboard
the West Auriga."

Contact Information
Benjamin Wiseman
Corporate Finance Manager & Investor Relations
T: +44 786 713 9312
E: benjamin.wiseman@seadrill.com

For additional information, visit www.seadrill.com.

About Seadrill Limited
Seadrill is a leading offshore drilling contractor utilizing advanced technology
to unlock oil and gas resources for clients across harsh and benign locations
around the globe. Seadrill's high-quality, technologically-advanced fleet spans
all asset classes allowing its experienced crews to conduct operations across
geographies, from shallow to ultra-deepwater environments.

Forward-looking Statements
The new release includes forward-looking statements. All statements other than
statements of historical facts included in this communication, including those
regarding the Company's plans, strategies, business prospects, changes and
trends in its business and the markets in which it operates, are forward-looking
statements. These forward-looking statements can often, but not necessarily, be
identified by the use of forward-looking terminology, including the terms
"assumes", "projects", "forecasts", "estimates", "expects", "anticipates",
"believes", "plans", "intends", "may", "might", "will", "would", "can", "could",
"should" or, in each case, their negative, or other variations or comparable
terminology.  These statements are based upon management's current plans,
expectations, assumptions and beliefs concerning future events impacting the
Company and therefore involve a number of risks, uncertainties and assumptions
that could cause actual results to differ materially from those expressed or
implied in the forward-looking statements, which speak only as of the date of
the new release. Important factors that could cause actual results to differ
materially from those in the forward-looking statements include, but are not
limited to, offshore drilling market conditions, including supply and demand,
dayrates, fluctuations in the price of oil, international financial market
conditions, changes in governmental regulations that affect the Company or the
operations of the Company's fleet, the review of competition authorities and
other factors described from time to time in the reports filed or furnished by
the Company with the U.S. Securities and Exchange Commission ("SEC"). The
Company undertakes no obligation to update any forward-looking statements to
reflect events or circumstances after the date on which such statement is made
or to reflect the occurrence of unanticipated events. New factors emerge from
time to time, and it is not possible for the Company to predict all of these
factors. Further, the Company cannot assess the impact of each such factor on
its business or the extent to which any factor, or combination of factors, may
cause actual results to be materially different from those contained in any
forward-looking statement. Consequently, no forward-looking statement can be
guaranteed. When considering these forward-looking statements, you should also
keep in mind the risks described from time to time in the Company's filings with
the SEC, including its Annual Report on Form 20-F for the year ended December
31, 2022, filed with the SEC on April 19, 2023 (File No. 001-39327), and
subsequent reports on Form 6-K. This announcement is subject to disclosure
requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.