The Malaysian government agreed on Wednesday to pay USA seabed exploration firm Ocean Infinity Ltd. from $20 to $70 million on condition that it finds the missing Malaysia Airlines flight MH370 within 90 days.
There is a ray of hope for the next-of-kin of passengers of the missing Malaysia Airlines Flight MH370 to find closure following a memorandum of understanding (MoU) between Malaysia and United States-based Ocean Infinity Limited to begin a new quest for the ill-fated jetliner which vanished in 2014.
Malaysian Transport Minister Liow Tiong Lai said Houston-based private company Ocean Infinity will search for MH370 in the 25,000 sq km priority area.
"They can search, but it (finding debris) must be within a time frame of 90 days". Floating debris has been found far from where MH370 is thought to have crashed, but no sign of the main debris field has been found.
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The Norwegian research vessel known as the Seabed Constructor is already on its way to the area identified by the Australian Transport Safety Bureau and Commonwealth Scientific and Industrial Research Organisation (CSIRO) as the most likely crash site. Media reports indicate that it will receive up to $70 million in the event the search finds the aircraft.
Malaysia, China and Australia called off the 1,046-day official search past year without solving the mystery.
It will be paid $A20 million if the plane is found within 5000sqkm, $A30 million if it is found within 10,000sqkm and $A50 million if it is found within 25,000sqkm.
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"It is our duty to look for answers and the plane, and as of today the government has made a decision to go ahead with the search", he told The Malaysian Insighter.
The search will be undertaken by a fleet of eight autonomous underwater drones "packed with sensors", whose data from the seabed is then analyzed on board the surface vessel, Plunkett said. It's pinpointed the possible location to a 25,000 square-meter section of the Indian Ocean.
The vessel being used in the search, the Seabed Constructor, had docked in Durban over the New year for cleaning, before departing for its mission.
Only three confirmed fragments of MH370 have been found, all of them on western Indian Ocean shores, including a two-metre wing part known as a flaperon.
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The disappearance of Flight 370, a Boeing 777 that had 239 people overseas when it vanished in March 2014, is one of aviation's greatest mysteries.