A life raft floats near Sakhalin Dec. 19, 2011
A life raft floats in the sea near Russia's far eastern island of Sakhalin December 19, 2011 in this still image taken from video. Fourteen people were rescued from the water but efforts continue to find many more missing sailors from the Kolskoye oil rig. Reuters

The death toll from an oil rig accident off of Russia's Sakhalin Island in the frigid Sea of Okhotsk could be as high as high as 50 people.

Kolskoye, the stricken rig was being towed in a storm, reported the New York Times, and water flowed into the rig following some damage it sustained during a storm. An ice breaker and the rig's tug boat were able to save 14 people from the cold waters after it started to list in heavy seas, upturned, and then sank Sunday morning.

The rig was being towed back to port as it started sinking. A heavy wave damaged some of the rig's equipment and portholes in the crew's dining room, reported the Associated Press, on Monday. As of 8:34 a.m., 10 bodies were retrieved from the water.

The rig had a crew of 67, according to Russia's ministry of civil defense and emergencies, and each person on the rig was equiped with hydrothermal-suits and the rig also had four life boats.

Rescue efforts so far have located two empty life boats, the Tiimes reported.

Sailors in the water had roughly 30 minutes to await rescue before freezing to death, reported Reuters.

The Russian ministry reported that 195 people, on four ships and five aircraft, are working to comb the waters, and the rescue efforts continue, according to the rig owner's website.

The accident took place roughly 125 miles from the coast of Russia's Sakhalin Island. The rig was owned by Arktikmorneftegazrazvedka, part of state owned oil and natural gas prospecting company Zarubezhneft.