Kuala Lumpur: The Malaysian government has agreed in principle to accept a second “no find, no fee” proposal from a U.S. company to resume the search for flight MH370, which is believed to have crashed in the southern Indian Ocean over a decade ago, Transport Minister Anthony Loke announced on Friday.

Loke said Cabinet ministers approved the plan last week, allowing Texas-based marine robotics company Ocean Infinity to conduct a new seabed search next year in a 15,000-square-kilometre (5,800-square-mile) area.

“The proposed search area, identified by Ocean Infinity, is based on the latest expert analysis and data. The company’s proposal is credible,” Loke stated.

MH370 mystery 10 years on

Flight MH370, a Boeing 777 carrying 239 people—mostly Chinese nationals—vanished from radar on March 8, 2014, shortly after departing from Kuala Lumpur en route to Beijing. Satellite data indicated the aircraft deviated from its course, heading over the southern Indian Ocean where it is believed to have crashed.

A costly multinational search failed to uncover any trace of the plane, though debris later washed ashore along the east African coast and on islands in the Indian Ocean. A private search by Ocean Infinity in 2018 also yielded no results.

US’ Ocean Infinity to search MH370 flight

Under the new agreement, Ocean Infinity will receive $70 million only if significant wreckage is found, Loke said, adding that negotiations with the company will be finalized by early 2025. Ocean Infinity has indicated the optimal search window is between January and April.

“This decision underscores the government’s commitment to continuing the search and providing closure for the families of MH370 passengers,” Loke said.

Earlier this year, Ocean Infinity CEO Oliver Plunkett noted the company had enhanced its technology since the 2018 search. He stated that Ocean Infinity is collaborating with experts to refine data and pinpoint the most likely crash site.