Malaysia agrees with Ocean Infinity to resume the search for MH370, Bloomberg reports:

Title: Malaysia Renews Search for Vanished Flight MH370 a Decade On

    Search to be conducted in a new area in southern Indian Ocean
    It will be based on ‘no find, no fee’ principle, minister says

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 conducted in a new area estimated at 15,000 square kilometers (5,791.5 square miles) in the southern Indian Ocean, according to according to Loke. The endeavor will be based on the “no find, no fee” principle, he added." "The data has been presented and our team has gone through it and they feel that it is credible and it is based on many other experts,” Loke said at a briefing in Putrajaya on Friday. “As far as the government is concerned, this is another attempt to find MH370.”

Ocean Infinity will be given an 18-month contract, and paid $70 million if they discover the wreckage, said Loke. The search will begin once the contract is signed, which the government aims to finalize as soon as possible. “The best time for them to search that area is between January and April,” Loke said. Ocean Infinity had already sought to find MH370 in 2018, with the Malaysian government agreeing to pay the firm as much as $70 million if that operation was successful. There is more optimism this time around. The identified area is larger than what was previously searched, and that has boosted their confidence, Loke said. The government will also spell out what’s defined as a “wreckage” in the contract. “Under the terms, they can’t just find a piece and call it the whole plane,” he said. “This decision reflects the government’s commitment to continuing the search operation and providing closure for the families of MH370 passengers,” Loke said.