Transocean says demand for offshore rigs ‘strong past 2011’

The market for offshore rigs is “going to be particularly strong past … 2011,” Transocean Inc. (RIG) chief executive Bob Long said Thursday.

Deepwater exploration projects around the world should soak up all new rigs entering the market, including “speculative” rigs built without a pre-arranged agreement to drill, Long said in a conference call with analysts.