Singapore and Malaysia Thursday are rushing to the aid of an Indonesian military submarine lost at sea as the neighbors make an all-out multinational effort to rescue the crew and boat.

The Nanggala submarine was reported missing after losing contact 60 miles from Bali late Wednesday. On board are 53 submariners, according to local news reports.

The Singapore Navy dispatched MV Swift Rescue. Based on the statement released by the Singapore Embassy in Jakarta, a medical team was also aboard. Singapore said the rescue craft was prepared for sea as fast as possible, defense minister Ng Eng Hen said.

Malaysia sent a Mega Bakti rescue vessel. The U.S., Germany, France, Turkey, India, Russia and Australia have all offered assistance.

An Indonesian Navy task force has started its own search operation in the waters where the submarine was last heard from. Indonesia has deployed other submarines to assist. At present five submarines and a helicopter were searching for the missing boat and 400 personnel were involved.

The submarine is a 40-year-old German-made Type 209 vessel. It was participating in an Indonesian Navy torpedo exercise when it lost contact, the reports said.

An oil spill has been sighted near the boat's last known location.

It was possible that during static dive, "a blackout occurred so control was lost and emergency procedures cannot be carried out and the ship descended to 600 meters-700 meters," the Indonesian Navy said in a statement, according to CNA.

"There looks like a terrible tragedy and it's in a very deep part of the waters - 2,297 feet or 2,625 feet deep, potentially," Peter Dutton, Australia's defense minister, told Sydney Radio 2GB.

The Nanggala was purchased in 1977 and delivered in 1981. The submarine underwent refits in Germany in 1989 and in South Korea in 2012.

Officials said the Nanggala can safely dive up to 500 meters but military experts estimate it is now 100 meters to 200 meters deeper.

"Let's pray for them so they can survive," Indonesian Navy representative First Adm. Julius Widjojono said.

When the boat first disappeared Wednesday, Indonesia said the crew had about 72 hours left to rescue 53 crew members of a missing navy submarine before they run out of oxygen.