The Malaysian government has given the final approval of the Texas-based marine robotics company to update its search for Malaysia Airlines Flight 370, which is believed to have crashed in the South Indian Ocean more than a decade ago.
Cabinet Minister has agreed to terms and conditions for a “Find No Find” agreement with Texas-based Ocean Infinity.
Ocean Infinity will only be paid $70 million if the wreckage is found.
The Boeing 777 plane disappeared from the radar shortly after taking off on March 8, 2014, carrying 239 people, mostly Chinese citizens, on a flight from Kuala Lumpur, the capital of Malaysia, to Beijing.
Satellite data show that the plane is believed to have rotated from its flight path, headed south towards the South Indian Ocean, where it crashed.
Although expensive multinational searches were unable to provide clues to the location, debris was washed on East African coastal islands and islands in the Indian Ocean.
No private searches for 2018 by Ocean Infinity were found either.
Final approval of the new search came three months after Malaysia gave a nod to the new search plan, as a rule.
Ocean Infinity CEO Oliver Plunkett said earlier this year that the company has improved its technology since 2018.
He says the company is working with many experts to analyze the data, narrowing its search area to the sites that are most likely.
Roquet said his ministry would soon mark a contract with Ocean Infinity but did not provide details on the terms.
The company reportedly sent the search vessel to its site, indicating that it was the best time to search from January to April.
“The government is committed to continuing the search operation and providing closures to families of MH370 passengers,” he said in a statement.
