PETALING JAYA: The Cabinet has approved the terms and conditions for a new search operation to locate the wreckage of Malaysia Airlines Flight MH370 in the southern Indian Ocean.

In a statement, today, Transport Minister Anthony Loke Siew Fook announced that the Cabinet has given final approval for the service agreement with Ocean Infinity, a UK-based marine robotics company.

“The Ministry of Transport will represent the Malaysian government to sign the agreement with Ocean Infinity.”

The approval enables Ocean Infinity to begin seabed search operations in a new area estimated at 15,000 square kilometers in the southern Indian Ocean and the search will be conducted on a “no find, no fee” basis.

“Under this principle, the Malaysian government will not be required to pay Ocean Infinity unless the wreckage of the aircraft is discovered, with a success fee of US$70 million,“ the statement read.

Loke emphasised the government’s commitment to continuing the search operation and “providing closure for the families of MH370 passengers.”

Flight MH370 disappeared over a decade ago on March 8, 2014, while en route from Kuala Lumpur to Beijing with 239 people on board.

Despite extensive search efforts covering vast areas of the southern Indian Ocean, the aircraft’s main wreckage has never been found.