The chopper reportedly took off from Juhu at 10.20 AM and was scheduled to land at North Field of ONGC at 10.58 AM.
The bodies of the three people, including a senior ONGC officer, and the debris of the chopper have been found, Coast Guard officials said.
According to reports, the chopper (VT PWA), with 2 pilots and 5 passengers workers hasn't landed at the designated oil rig and there is no information about its whereabouts. The Dauphin helicopter lost contact with Air Traffic Control around 10.35 am almost 30 nautical miles off Mumbai.
The Coast Guard said that it has diverted ships which were at sea and also those sailing from Mumbai.
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The Indian Navy, too, has deployed its vessels for the search operation.
Seaking 42B helicopter is also being launched, the spokesperson added.
The Times of India reported that two pilots and five ONGC employees were on board. "The pilots, as per the procedure, had changed over their radio contact from Juhu air traffic control to the one manned on the oil rig around 10.25 am", said a source.
Search operations for the chopper are underway. Meanwhile, Pawan Hans and ONGC have not issued a statement as of yet.