Explosion and fire destroy massive oil rig in Western Iran
Large explosions and fire have completely destroyed Iranian oil rig No. 118 in Naftshahr (Western Iran) and caused 15 casualties. The 250-ft wide fire is widespread and not controlled yet. The oil field is said to have 692 million barrels in reserve. The cost of the destroyed rig is estimated at $15 Million and the lost revenue is estimated at $14.5 Million per year. Iranian experts believe extinguishing the fire and plugging the leak will take at least 30 days.
Observers note that the unprecedented explosion and fire at an Iranian oil rig comes only 40 days after the unprecedented explosion and fire at the deep water Horizon oil well in the United States, and amidst ever-increasing political and military tensions between the two countries.
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