BUSINESS
02/05/2013 11:48 am ET Updated Feb 05, 2013

Iranian Gas Rig Sinks In Persian Gulf; Iran Asks For Help To Recover It (VIDEO)

Iran avoided a human tragedy when a fully manned 1,000-ton gas rig sank into the Persian Gulf last week without injuring any of the workers, according to Australia's News.com.au.

But now Iran has a logistical problem: How does it salvage the wreckage?

As dramatic YouTube footage circulates of what is said to be the platform submerging into the sea as the men aboard scramble for safety, Iran has asked for aid in helping retrieve the $40 million structure, Reuters writes, based on a report by Iranian news agency Mehr.

Any willing Western company will have 80 meters of water depth and a host of diplomatic complications to tackle. Western sanctions imposed on Iran for its alleged nuclear program will create plenty of obstacles for companies to do business with the Islamic nation, Reuters said. The restrictions come into play, in part, because a wing of Iran's Revolutionary Guard was responsible for the construction of the downed rig, Agence France-Presse reports.

AFP also said the accident will likely delay the greatly expanded gas field output Iranian President Mahmoud Ahmadinejad has planned in the region.

According to France 24, based on another Mehr report, Iran lost a gas rig two years ago near its sea border with Oman.

The YouTube footage of the more recent incident has not yet been verified. However, the clip has been widely seen on Iranian social media, France 24 said.

According to local reports, writes News.com.au, the men on the platform were not hurt.

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