In the North Atlantic off the coast of Greenland, a highly advanced deep sea oil rig has been recently constructed by the company Nexecon Petroleum, and named "Colossus" for its immense size.

A reporter, Christen Giddings, has been invited by the CEO of Nexecon, Peter Brazier, to the oil rig in an attempt to address the concerns of the geologists.

Brazier hopes that a documented report on "Colossus" will reveal that his rig has all the necessary safety arrangements and that the region is stable enough for a drilling operation.

In a desperate move to stop the monster shark, one of the crew members, Ross, lures it to an open space with his small submarine and overloads the fuel tanks of the machine, resulting in a gigantic explosion that kills both him and the beast.

The ordeal is not over yet as another megalodon ventures into open waters, passing below a boat with Christen Giddings on board, but she is unaware of its presence.