SDLP - Seadrill Partners LLC Announces Launch of Term Loan B and Revolving Loan

London, United Kingdom, January 31, 2014 - Seadrill Partners LLC ("Seadrill Partners" or the "Company") (NYSE: SDLP) announced today that it is launching a proposed $1.7 billion senior secured term loan B and a $100 million first-out senior secured revolving loan.  The loans will be borrowed by three of the Company's subsidiaries, as borrowers, guaranteed by certain of the borrower's and their existing and future subsidiaries, and secured by four of the Company's ultra-deepwater drilling rigs and certain other assets.  Proceeds of the term loan are to be used to refinance certain existing indebtedness, pay transaction expenses, and for general company purposes.  There can be no assurances that the Company will be successful in its marketing efforts or that it will be able to enter into the new term loan and new revolver. Closing of the new term loan and new revolving loan, which is anticipated to occur in the third week of February 2014, is subject to negotiation and execution of definitive documents and satisfaction of customary closing conditions.

Seadrill Partners was formed by Seadrill Limited to own, operate and acquire offshore drilling rigs under long-term contracts. Its current fleet consists of four semi-submersible rigs (the West Aquarius, the West Leo, the West Sirius and the West Capricorn), one drillship (the West Capella), two tender rigs (the T-15 and the T-16), and one semi-tender (the West Vencedor).

Deutsche Bank Securities Inc., is acting as Sole Global Coordinator.  Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, Barclays Bank PLC, and RBC Capital Markets, are acting as joint lead arrangers and joint bookrunners.  ABN AMRO Capital USA LLC, HSBC Bank USA, N.A., ING Bank NV and BNP Paribas, are acting as Co-Managers.

The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements, which include statements related to the term loan and revolving loan and the anticipated use of proceeds therefrom, are based upon the current beliefs and expectations of Seadrill Partners' management and are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The information set forth herein should be read in light of such risks. Seadrill Partners does not assume any obligation to update the information contained in this press release.

Questions should be directed to:

Graham Robjohns: Chief Executive Officer

Rune Magnus Lundetræ:  Chief Financial Officer