![UPDATED: Watch Iran’s $40 Million Gas Platform Sink in the Persian Gulf [VIDEO]](https://gcaptain.com/wp-content/uploads/2013/02/Screen-shot-2013-02-03-at-2.14.38-PM.png)
5 February Update:
Ahmad Ghalehbani, Managing Director of the Iranian National Oil Company said in a translated statement that recovering the sunken jacket of South Pars oil field from the seabed is feasible in the coming weeks if it has not been seriously damaged, but that a realistic assessment of the jacket is needed before a recovery is executed.
He added that SADRA, the Iranian shipbuilding and marine repair yard, had been granted the contract for all stages of the project including design, construction, roll up and installation, and will be held financially responsible.
The root cause of the incident is still being investigated, however weather and a very soft seabed appear to be the main causes of the incident which resulted the jacket tipping over and sinking unexpectedly.
He also clarified that if the recovery of the jacket fails, SADRA is obligated to construct a new jacket which may delay this project by at least 5 months.
Earlier post:
This story was initially reported on January 30th citing a press release on the Iranian Pars Oil and Gas website. $40 million was the number placed on the value of what sank off Iran.
An update from the Pars Oil and Gas website today proves what is abundantly clear by watching this video. The sinking structure is the “jacket,” or the structure used to support the topside production facility which has yet to be installed. Jackets such as this one do not cost $40 million to make.
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
The US and China will temporarily lower tariffs on each other’s products in a dramatic ratcheting down of trade tensions that buys the world’s two largest economies three months to work toward a broader agreement.
Finland’s premier icebreaker designer, Aker Arctic, has been awarded a contract to develop a new state-of-the-art mid-size icebreaker. The effort is part of a major fleet renewal program to ready Finland's icebreaking fleet for the changing requirements in the Baltic Sea. The country is also part of the ICE Pact with Finnish yards looking to construct icebreakers for Canada and the U.S.
The United States and China have agreed a deal to temporarily slash reciprocal tariffs as the world's two biggest economies seek to end a damaging trade war that has stoked fears of recession and set financial markets on edge.
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Stay informed with the latest maritime and offshore news, delivered daily straight to your inbox
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
