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May 6, 2010 11:14 AM

Owner of sunken oil rig defends Transocean's safety record

Steven Newman, Transocean's president and chief executive, told industry analysts during a conference call on the company's quarterly earnings that it would be "premature'' and "inappropriate'' to speculate on what caused the April 20 blast that sank the $600 million rig and left 11 crew members missing and presumed dead.

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