Hollywood’s royal couple Brad Pitt and Angelina Jolie will be reuniting onscreen in the actress’s third directorial project, “By The Sea.”

Confirmed by Universal Pictures, the real-life couple will be teaming up in the drama film, marking their first project since “Mr. & Mrs. Smith,” (2005).

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The studio has acquired the world rights to the film which it described as "intimate, character-driven drama." The film’s screenplay was penned by Jolie, who will also direct the project. Her longtime partner, Pitt, will be producing the upcoming drama.

The press release by the distributing company stated: “Universal City, CA, July 18, 2014—Universal Pictures has acquired worldwide rights to Angelina Jolie’s next film project, By The Sea, written and to be directed by Jolie, it was announced today by Donna Langley, Chairman, Universal Pictures.”

A separate report by Today cited Universal chair Donna Langley expressing good faith in Jolie in a statement.

“Angelina continues to showcase her extraordinary storytelling abilities in front of and behind the camera and we are thrilled to extend our relationship with her on 'By the Sea,” Today said, quoting Langley's statement.

The film honcho also emphasized that the A-list couple are the best choices for the job.

“Angelina and Brad represent two of Hollywood’s brightest talents and we are excited to be a part of their collaboration on this powerful piece,” Langley added.

Jolie for her part noted that she herself was elated to be collaborating with the Universal team, pointing out her relationship with Langley.

The “Maleficent” star also commended Universal Pictures for the impact the studio has made on filmmakers like her.

“They have created a very special place for storytellers, and I look forward to the continued passion and support they have provided to me as a filmmaker,” Jolie said.

“By The Sea” marks Jolie’s third directorial project. Jolie is currently in post-production with her second directorial film, “Unbroken,” featuring Olympian and war hero, Louis Zamperini. The film is set to hit theaters in December 2014. Jolie’s directorial debut, “In the Land of Blood and Honey,” earned the Oscar-winning actress her first Golden Globe nomination as a director in 2012.

The “Mighty Heart” actress is known for her humanitarian work as special envoy for the United Nations High Commissioner for Refugees (UNHCR).

Her contribution in the international organization began in February 2001, after personally experiencing the “effects of humanitarian crisis while filming Lara Croft: Tomb Raider,” according to her online biography.

This prompted Jolie to take interest in the world crisis, beginning with a donation worth $1 million USD, which UNHCR claimed was by far the largest amount contributed by an individual.

In August 2001, Jolie was named UNHCR Goodwill Ambassador at the UNHCR headquarters in Geneva. She was later promoted as Special Envoy to UNHCR in 2012.

Jolie and Pitt, popularly known as “Brangelina” in Hollywood, have been romantically involved since 2005 and the couple shares six children, Maddox Chivan Jolie-Pitt (12), Pax Thien Jolie-Pitt (10), Zahara Marley Jolie-Pitt (9), Shiloh Nouvel Jolie-Pitt (8), and twins Knox Léon Jolie-Pitt (6), and Vivienne Marcheline Jolie-Pitt (6). Representing Jolie is UTA and Media Talent Group while Pitt is represented by CAA and Brillstein Entertainment.

TagsBy the Sea, Angelina Jolie, Brad Pitt