Watch $40 million Iranian oil platform sink into Persian Gulf

Tehran - Footage has emerged online showing a partially completed $40 million Iranian oil platform collapsing into the Persian Gulf. The video shows people clambering for safety in fright as the platform sank into the depths below their feet .

According to the Australian News.com, the oil rig cost $40 million and took 30 months to build. But it disappeared underwater in only 10 seconds. The video shows the people clambering frantically across the structure trying to escape from it as it disappeared into the rough ocean. It shows people falling from the rig into the water as it sank. There are no reports of casualties in the incident. The people on the platform swam to safety, New.com reports. According to Ninemsn, Mehr news says the gas platform sank 80m to the seabed. Iran has called for foreign assistance to salvage the 1300-metric-tonne platform from the sea bed, Ninemsn reports. The structure belonged to Iran's Revolutionary Guard. The state-owned Pars Oil and Gas Co. Ltd (POGC) was installing the platform when it sank. It was built by Iranian Marine Industrial Co. The company says it is investigating what caused the incident last week. Officials say harsh weather conditions at sea have prevented it from being recovered.