The accident, taped in a dramatic video, shows more than a dozen workers scrambling to get to the highest part of the rig before jumping or simply being dumped in the Persian Gulf. It was not immediately known if the accident, which occurred last Wednesday, resulted in any fatalities or injuries.
The approximately 4 million-pound rig took about 30 months to build and less than a minute to sink, according to news.au.com.
South Pars Field, the world's largest natural gas condensate field, straddles part of the Persian Gulf and extends southwest into Qatar and northeast into Iranian territory. Both nation's produce from South Pars, which constitutes about 47 percent of the country's natural gas reserves, according to the Oil & Gas Journal.