Iran, Russia and Turkey have signed agreement on maintaining trilateral cooperation in developing oil and gas fields, a report said.

According to Petroleum Ministry, the agreement was sealed among Ghadir Exploration and Production Company, Russia Zarubezhneft Company and Turkey Unit International, reported Irna.

Based on the agreement, all sides will invest in oil and gas development plans.

JSC Zarubezhneft is a Russian state-controlled oil company based in Moscow that specializes in exploration, development and operation of oil and gas fields outside the Russian territory.

Unit International is a private company which is active in producing energy and electricity in Turkey, Iran and European companies.