KUALA LUMPUR, March 19 — The Cabinet has approved the terms and conditions of a service agreement with United Kingdom-based company Ocean Infinity to resume the search for the missing MH370 aircraft wreckage in the southern Indian Ocean.
The Ministry of Transport will represent the Malaysian government in signing the agreement with Ocean Infinity following the Cabinet’s approval.
The search will cover a new area estimated at 15,000 square kilometres in the southern Indian Ocean under a “no find, no fee” arrangement.
Under this agreement, the government will only pay Ocean Infinity a fee of US$70 million (RM310 million) if the wreckage of MH370 is found.
Transport Minister Anthony Loke Siew Fook in a statement today said the government remains committed to continuing the search and providing closure to the families of the MH370 passengers.
Flight MH370 disappeared on March 8, 2014, while en route from Kuala Lumpur to Beijing with 239 people on board.
Several search efforts have been conducted since its disappearance, but the main wreckage has yet to be located.
The “no find, no fee” model was previously used in a 2018 search by Ocean Infinity, which ended without discovering the aircraft.
