BANGKOK — The government of Malaysia and an American ocean exploration company began a new effort on Wednesday to solve one of history’s greatest aviation mysteries: the disappearance of Malaysia Airlines Flight 370 nearly four years ago.

Ocean Infinity, a Houston-based company, could receive as much as $70 million if it finds the plane’s debris field or two data recorders within 90 days, Transportation Minister Liow Tiong Lai said Wednesday at a signing ceremony with company officials at Putrajaya, Malaysia’s federal administrative center.

But under the agreement, the company will receive nothing if it does not find the missing Boeing 777, which disappeared over the Indian Ocean on March 8, 2014, with 239 people aboard.

Mr. Liow called it a “no cure, no fee” agreement.

Under the contract, Malaysia will pay Ocean Infinity $20 million if it finds the wreckage or data recorders early in the search. The potential fee rises in staggered amounts to as much as $70 million, depending on how large an area the vessel searches before locating the plane.