Iran Oil Rig Collapses
Iran is asking for international help in retrieving part of a mult-million-dollar oil rig that collapsed into the Persian Gulf last week.
Shocking amateur video footage released on Monday shows the “jacket” of the 1,500-ton rig falling into the sea within seconds, leaving workers floating in the ocean surface.
One person was hurt in the accident, which happened last Wednesday. It is not known what caused the structure to collapse.
Located in Iran’s South Pars gas field, the rig is valued at US$40 million and took 30 months to build. It is owned by the Iranian Revolutionary Guard.
Because of severe economic sanctions, Iran has been forced to build its own oil rigging equipment. China continues to buy up Iranian oil and gas.