THE cabinet has, in principle, approved a proposal from Ocean Infinity to carry out a seabed search for the wreckage of Malaysia Airlines Flight MH370 in the southern Indian Ocean.
According to Transport Minister Anthony Loke, they are discussing final terms with Ocean Infinity and it is expected to be finalised by early 2025.
“The Cabinet has agreed in principle to accept Ocean Infinity’s proposal to resume the search for MH370’s wreckage in a new search area estimated at 15,000km per square based on the no-find-no-fee principle,” he said.
“This means the government will not have to pay unless the wreckage is found.”
He said the contract will last for 18 months and the Attorney General Chambers is getting through the agreement with Ocean Infinity.
“The fee is US$70mil if the plane is found,” said Loke.
Ocean Infinity had proposed a new search in a 15,000 sq km area in the southern Indian Ocean, based on the latest data analysis.
Previously, Ocean Infinity had conducted searches in the Indian Ocean from 2017 until the end of 2018.
In March, the Texas-based firm claimed that it had found new scientific evidence on the last location of MH370. - December 20, 2024
