(Image source: Arktikmorneftegazrazvedka)

BY STEVEN SPARKMAN

ANCHOR CHRISTIAN BRYANT

Tragedy in the frigid waters off the coast of Russia. An oil rig sank suddenly, and most of its crew may have been killed. Here’s Fox News.

“At least four people are killed and another 49 are missing after an oil rig overturned and sank. … Sixty-nine people were on board the rig when it went down while being towed. Fourteen people were rescued from the water and are said to be doing OK. Stormy conditions are believed to be the cause of this accident.”

The rig had been part of an oil exploration expedition that expired in early December and was being towed back to shore. Al Jazeera explains how the rig went down.

“The drilling platform was being towed 200 km offshore when it hit stormy weather. Emergency crews say icy waves shattered portholes and flooded the rig. It tilted and sank within 15 minutes -- little time for its crew members to escape.”

Several crew members were seen floating in the water, but as of Sunday morning -- stormy conditions prevented rescuers from getting to them. A search and rescue official told RT that what they have found in the water isn’t encouraging.

“There are a number of safety suits floating around the area, but there are no people in them. It means the crew wasn’t able to get down to the lifeboats. The boats were washed away with the flow of the water.”

A criminal investigation has been ordered by president Dmitri Medvedev. It’s believed safety rules were violated by attempting to move the rig in such bad weather. The New York Times says the disaster doesn’t bode well for Russia’s drilling plans.

“Though the Russian rig ... was not drilling when it sank, the accident was a setback for Russia’s ambitions to expand offshore drilling to replace declining output on land, and maintain oil exports that are vital to the country’s economy.”

The oil company which owns the rig said the vessel had very little fuel on board, so an ecological disaster is unlikely.