Ocean Infinity was reported to be favoured after making a "no find, no fee" offer to search for the Malaysia Airlines plane.
The Malaysian statement was issued yesterday after Australia's Minister for Infrastructure and Transport Darren Chester was quoted on Thursday as saying that Malaysia has agreed on such a deal with the company, Ocean Infinity.
After almost three years of combing the ocean without success, the Malaysian, Chinese and Australian governments in January chose to suspend the search for the jetliner until "credible new information" is available.
Kuala Lumpur: Malaysia is negotiating with a United States firm to resume the hunt for missing flight MH370, a minister said, in news welcomed by the widow of one of those who had been on board.
"In this regard, the Government of Malaysia has given the permission for the response team to proceed negotiating the terms and conditions with Ocean Infinity".
"Ocean Infinity will focus on searching the seafloor in an area that has previously been identified by experts as the next most likely location to find MH370".More news: White Nationalist, Richard Spencer, to Speak at UF Today
"We wish to also inform that at this juncture, the Malaysian Government has yet to arrive into an agreement with Ocean Infinity for the search of MH370 as widely reported in the media recently".
"I hope that this new search will bring answers, both for the next of kin and for the rest of the world". Some debris definitively linked to the plane has been found, but for the most part its whereabouts remains a mystery.
The plane was on its way to Beijing with 239 people on board, with over two-thirds of the passengers Chinese.
"No new information has been discovered to determine the specific location of the aircraft, however data collected during the previous search will be provided".
The statement says that Ocean Infinity will look for the lost Boeing 777-200ER in yet unsearched area where it is believed the aircraft could be.
In December a year ago, an Australian government report confirmed that teams searching for the missing aircraft had been very likely been looking in the wrong place. The Texas-based explorer will search various sections of the Indian Ocean for additional wreckage from Flight 370, which disappeared on March 8, 2014.