Italian tyre-makers Pirelli are to supply Formula One cars for the next three years under the terms of a new contract signed with the sport's governing body the International Automobile Federation (FIA).

Following a turbulent season, it was announced late last year that Pirelli would remain as the sole supplier of tyres for the Formula One ciruit.

The announcement that the agreement will stand for the next three years, further underlines the FIA's confidence that Pirelli can iron out the safety problems that dogged them in 2013.

The season was marred by a succession of tyre blowouts, culminating at the British Grand Prix at Silverstone which was almost halted mid-race due to the number of incidents.

Subsequently Pirelli were forced to alter its tyres, resulting in speculation it would withdraw at the end of the campaign and a new supplier be brought in.

The Italians complained that they were being hampered by the regulations in terms of allowing it to develop its rubber. Now compromises have been reached and changes to the rules applied, mandatory from the forthcoming season onwards.

"Pirelli will continue to determine the specification of the tyres and to manage all aspects of their development, in close consultation with the FIA and the teams, and within the parameters set out in the FIA Formula One Sporting and Technical Regulations," the tyre company said in a statement