Malaysia has reached an agreement with exploration firm Ocean Infinity to resume the search for the wreckage of Malaysia Airlines Flight MH370, which disappeared in 2014.

Axar.az reports that the new search will cover a 15,000 square kilometer area in the southern Indian Ocean under a "no find, no fee" principle.

Ocean Infinity will receive $70 million if the wreckage is located.

This decision follows an earlier agreement in principle made in December to restart the search after the previous attempts, including a joint search by Malaysia, Australia, and China, failed to locate the plane. The duration of the contract is unclear, though it is expected to last around 18 months. The Malaysian government remains committed to providing closure for the families of the passengers.