Despite that, he said the government welcomes reports by British media that the UK-based exploration company has already begun its search in the Indian Ocean yesterday.

“I welcome the proactiveness of Ocean Infinity to deploy their ships to that area to begin the search.

“We are still finalising our contract. We just got the clearance from the Attorney-General’s Chambers. There are some minor changes that need to be made to the terms and conditions,” he told reporters at an event in Kuala Lumpur today.

Last December, the government had agreed in principle to accept Ocean Infinity’s proposal for a new search mission, reiterating that the search would be based on the “no find, no fee” principle.

Under this agreement, Putrajaya will not have to pay the company anything unless the aircraft is found. If discovered, the government will have to pay Ocean Infinity US$70 million.

The disappearance of MH370 remains one of the biggest mysteries in aviation. The plane went missing on March 8, 2014, with 239 people on board, en route from Kuala Lumpur to Beijing.

Loke also expressed confidence in Ocean Infinity’s expertise in maritime robotics, saying the government believed the company was well-prepared to lead the search operations.

“Ocean Infinity felt very confident that the current search area is more credible because they have covered a large area previously, and this is the area that they have missed in the past.

“They have convinced us that they are ready to take the risk and to resume the search,” he said.

Ocean Infinity’s proposal focuses on a 15,000 sq km area in the southern Indian Ocean, guided by the latest data analysis.

When asked about a deadline for the search, Loke said the contract includes a timeframe but did not disclose specific details.

Previously, Loke said the search mission would take three months and the contract would last for 18 months.