Sputnik - Iran's Ghadir investment company, Russia's Zarubezhneft oil and gas intermediary and Turkey's Unit International have signed an agreement on joint investments in oil and gas fields' development projects, following a meeting in Moscow, Iranian media reported Tuesday.

MOSCOW (Sputnik)�� According to�Shana News Agency, it is expected that the parties will set up�joint ventures to�finance projects both in�Iran and outside�the country.

Each company will allocate equal investment shares in�the jointly financed projects, with�Iran's Ghadir Exploration and Production Company in�charge of�leading the consortium. Zarubezhneft, Ghadir and Unit International also agreed on�joining technical and economic efforts, the news outlet reported.

This is a landmark agreement for�the Iranian petrochemical industry, the first trilateral investment deal the country's company has closed with�foreign partners.

In July 2016, Zarubezhneft signed an agreement with�the National Iranian Oil Company, according to�which the Russian intermediary has to�inspect West Paydar and Aban oil fields in�western Iran and report on�the possible ways to�increase the recovery rate of�the facilities.