Transport Minister Anthony Loke announced on Dec 20 that US-based private marine exploration company Ocean Infinity has been tasked with resuming the undersea search for the plane's wreckage within a 15,000 sq km area off the coast of Western Australia.
"They have informed us that the best time for searching is between January and April. We are trying to finalise the contract as soon as possible. They have committed that the search will begin once the contract is signed," Mr Loke said.
He told reporters in Putrajaya that the Cabinet agreed in principle on Dec 13 to proceed with another search.
The Transport Ministry is negotiating the terms of the contract with Ocean Infinity, and it will be finalised in early 2025.
The contract is based on a "no find, no fee" principle, meaning the government will not pay if nothing is found. Should the wreckage be found, Ocean Infinity is seeking a US$70 million (S$95 million) fee - similar to that proposed in 2018.
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