$40 Million Iranian Oil Rig Sinks into the Ocean in Seconds

Posted: February 7, 2013  |  By: Erica Ho [Times Newsfeed]

The sea has swallowed countless things throughout history. At least shipwrecks generally have a chance to ride the waves before succumbing to the ocean deep. This Iranian oil rig didn’t. It took approximately 10 seconds for the brand-new $40 million oil platform to meet its fate below the sea.

The oil rig, belonging to Iran’s Pars Oil and Gas Company, was being installed in the Persian Gulf last Wednesday when something went quite wrong, leading the “jacket” of the rig to sink more than 260 feet (80 m) below the surface of the water. While details are still fuzzy about what went wrong, what is clear is that the 2,000-ton oil platform began sinking – and fast. Reports said that a crane broke during installation, letting the metal rig descend into the Gulf waters before it was ready to stand on its own.

Click here to read more and watch a video of the rig going down.
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