Malaysia’s Transport Minister Anthony Loke announced Friday that the government has agreed to a new “no find, no fee” arrangement with Ocean Infinity, a Texas-based marine robotics company, to resume the search for flight MH370. The Cabinet approved the proposal last week.

The search will focus on a new 15,000-square-kilometer area in the southern Indian Ocean, identified by Ocean Infinity using updated data and expert analysis. Minister Loke described the company’s proposal as credible.

“The proposed new search area, identified by Ocean Infinity, is based on the latest information and data analyses conducted by experts and researchers. The company’s proposal is credible,” he stated.

Flight MH370, a Boeing 777 carrying 239 passengers (mostly Chinese nationals), disappeared from radar on March 8, 2014, en route from Kuala Lumpur to Beijing. Satellite data indicated the aircraft deviated from its planned course over the southern Indian Ocean, where it’s presumed to have crashed.

Previous extensive multinational and private (2018 Ocean Infinity) searches yielded no conclusive results, although debris was later found on various islands in the region.

Ocean Infinity will receive $70 million only upon the discovery of significant wreckage, according to the agreement. The Malaysian Ministry of Transport will finalize negotiations with the company early in 2025. The optimal search window is reportedly January to April, according to Ocean Infinity.

“This decision reflects the government’s commitment to continuing the search operation and providing closure for the families of MH370 passengers,” Minister Loke added.

Ocean Infinity’s CEO, Oliver Punkett, previously stated that the company has made technological advancements since its 2018 search and is collaborating with numerous experts to refine the search area.