MH370 last ship
A woman leaves a message of support and hope for the passengers of the missing Malaysia Airlines MH370 in central Kuala Lumpur, March 16, 2014. Reuters/Damir Sagolj

A fresh search for the missing Malaysia Airlines Flight MH370 is expected to begin soon, spearheaded by a private United States-based company. On Wednesday, the Malaysian government was scheduled to sign a deal detailing the terms of payment that will be given to Ocean Infinity if the missing jet is found.

According to Channel News Asia, the Malaysian government will pay up to $50 million to Ocean Infinity if the missing flight MH370 is found within a 9,653 sq. mile zone identified by Australian researchers as the resting place of the aircraft, and at least $70 million if it is found in a search area beyond that.

Flight MH370 went missing on March 8, 2014, with 239 people on board while on its flight from Kuala Lumpur to Beijing. A multimillion-dollar search operation, conducted by the tripartite and headed by Australia, yielded no concrete clues as to the whereabouts of the plane. The search operation became the costliest in aviation history.

The Malaysian government agreed to a deal with the seabed exploration company under a "no cure, no fee" structure, according to which the company will be paid only if the aircraft is found.

According to Channel News Asia, Malaysia agreed to pay the U.S. firm according to a tier system, starting at $20,000 if the plane is found within the first 1,930 sq. miles.

The search for MH370 was suspended in January 2017 after no trace of the plane was found in a 46,332 sq mile zone in a remote part of the southern Indian Ocean. The search had cost the Malaysian government $116 million.

The only positive clue so far about the plane's disappearance came when debris washed up on the shores of islands in the Indian Ocean. After analyzing the pieces of debris, authorities said some of them came from the missing jet.

Since the plane's disappearance several conspiracy theories have surfaced about the jet, with some saying that the pilot deliberately crashed the plane while others hinted at a hijack. However, authorities confirmed none of the theories.

Several independent search efforts for the plane's wreckage were also conducted, including some by wreckage hunter Blaine Gibson, who claimed to have found almost 20 pieces of debris from the missing Boeing 777-200.

Earlier in November, reports said the release date of the final investigation report into the disappearance of MH370 depended on the negotiation between the Malaysian government and Ocean Infinity.