Oops! Forgot to add that Oxygen is definitely needed and can not be supplemented by any other gas. No Oxygen (for periods in excess of four minutes) means death!
There are exceptions such as when a body is placed in "suspended animation" by exposing it to hypothermic conditions. Any other time you hear of someone going longer than four minutes they probably "supercharged" their bodies with oxygen or through a deep breathing regimen prior to holding their breath which isn't exactly the same as having no oxygen.