As many as five people are feared dead after a supply vessel of Oil and Natural Gas Corporation sunk off the Mumbai coast on Monday.

"We have not yet lost hope and rescue operations are on. But we fear 4 to 5 people may be dead," ONGC [Get Quote] Chairman and Managing Director R S Sharma told PTI.

Samudrika-10, an offshore supply vessel, was carrying 14 people on board when it sank at 1230 hours. While nine were rescued, a search was on for the others.

Sharma said there may be two or three people other than the 14 manifested on board the ship. "We are trying to ascertain facts."

Samudrika-10 was one of the 14 such vessels owned by ONGC, but it was operated by private agency Seacal and all 14 people on board were its employees. Rescue operations by Coast Guard and an ONGC team were on.

"Helicopters have been pressed into service to locate the missing," Sharma said, adding that operations of the Mumbai High fields -- the country's largest oil and gas field � will not be affected.

According to Commander Coast Guard Region (West) Inspector General A Rajasekhar there was no oil spill on account of the mishap.

The accident is reminiscent of an incident in July 2005 when a similar supply vessel sank after colliding with an oil station of the public sector company in the Mumbai High fields.