Moratorium forces oil rig closure

July 9, 2010 6:35:23 PM PDT
A Houston company is packing up and moving a rig out of the Gulf because of the moratorium on deep sea drilling. And when it leaves, 30 people will lose their jobs. Diamond Offshore Drilling has six rigs in the Gulf that are sitting idle because of the ban that's in the middle of a vicious legal battle. It is now moving one of those rigs to Egypt, where it has a new drilling contract.

The move means 30 workers from Louisiana and Mississippi will lose their jobs. Those positions will go to Egyptians.

Diamond told us there's a good chance it will move a few more rigs and that when it's all said and done, 400 jobs could be lost.