Malaysia is negotiating terms and conditions with Ocean Infinity after accepting its proposal to search for the wreckage of Malaysia Airlines Flight 370, a decade after the aircraft disappeared, according to Transport Minister Anthony Loke.
The marine exploration company’s search will be carried out in a new area estimated at 15,000 km² in the southern Indian Ocean, according to Loke. The venture will be based on the principle of “no meet, no pay”, he added.
“The data has been presented and our team has analyzed it, and they believe it is credible and based on many other experts,” Loke said at a press conference in Putrajaya on Friday. “As far as the government is concerned, this is yet another attempt to find MH370.”
Flight 370 departed Kuala Lumpur on March 8, 2014, bound for Beijing. However, he lost contact with air traffic control less than an hour after takeoff, when the plane was over the South China Sea, and was never seen again. All 227 passengers and 12 crew members are presumed dead.
Ocean Infinity will receive an 18-month contract and be paid $70 million if it discovers the wreckage, Loke said. The search will begin as soon as the contract is signed, which the government intends to finalize as quickly as possible.
“The best period for them to search this area is between January and April,” said Loke.
Continues after advertising
Ocean Infinity had previously attempted to find MH370 in 2018, with the Malaysian government agreeing to pay the company up to US$70 million if this operation was successful.
There is more optimism this time. The area identified is larger than what was previously surveyed, which increased their confidence, Loke said.
The government will also specify what is defined as “wreckage” in the contract. “Under the terms, they can’t just find one piece and call it the whole plane,” he said.
Continues after advertising
“This decision reflects the government’s commitment to continue the search operation and provide closure for the families of MH370 passengers,” Loke said.
© 2024 Bloomberg L.P.
