Michael Laverty is set to remain with the Paul Bird Motorsport team for the 2014 MotoGP season.
The Toomebridge rider has endured a difficult year competing in the CRT class, securing points on just one occasion, a 13th place at Jerez in May.
"We have pretty much agreed terms, hopefully it will be signed and sealed in the next few weeks," said Laverty.
"There's a lot to take on board at new circuits and it would be a shame to waste the knowledge I've gathered."
Laverty will compete at the Malaysian Grand Prix this weekend, the first of the four remaining rounds in the series.
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“This debut season was always going to be tough as I had a lot of tracks to learn and it's a new bike that myself and the team have been developing”
"Malaysia is the first circuit I go to on the calendar with previous experience on a MotoGP bike - we did some pre-season testing there and we were quite strong.
"It was frustrating to get knocked off on the first lap in Aragon when I had a genuine chance of finishing in the top 12 but I'm really looking forward to the last four races," said Laverty.
Laverty admits that his opening season in the premier class of motorcycle sport has been a testing one, but adds that he is "always learning, gaining experience and slowly improving".
"This debut season was always going to be tough as I had a lot of tracks to learn and it's a new bike that myself and the team have been developing.
"You have to set yourself realistic targets and we were never going to be challenging for top 10 places.
"We've consistently been around the 17th and 18th region and although as a racer that's not where you want to be, I think we've been doing a reasonably good job.
"I changed machines for the last round in Aragon, which I guess is a strange thing to do mid-season, as I have to learn a new electronics package and a new chassis.
"I've been doing a lot of testing while racing but I've been enjoying mixing it with some of the best riders in the world on some of the greatest tracks in the world," he concluded.
Michael could end up competing against his brother Eugene next year as he has held talks with Ducati and the Aspar Aprilia team about a possible ride in MotoGP.