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James Cameron and cast on set of "Avatar"  Photo courtesy 20th Century Fox (c) 2009

With “Avatar” set to be released in a little over a week, Production Weekly reports that director James Cameron is developing a Shane Salerno-scripted sci-fi action script for Fox, described as an "event" film set in the future.

Salerno wrote the 2000 remake of “Shaft,” and was one of several writers credited and uncredited, including Jonathan Hensleigh, JJ Abrams and Tony Gilroy, on “Armageddon.” He also scripted “AVPR: Aliens vs Predator – Requiem” in 2007. He has numerous projects in development, including an untitled Roberto Orci/Alex Kurtzman project. His script “The Last Run” is currently in production at 20th Century Fox.

Fox has spent as much as half a billion dollars making and marketing “Avatar,” also a science fiction vehicle, which features the latest CGI and motion capture technology. The official synopsis from 20th Century Fox says:

AVATAR, a live action film with a new generation of special effects, takes us to a spectacular new world beyond our imagination, where a reluctant hero embarks on a journey of redemption and discovery, ultimately leading a heroic battle to save a civilization. The film was first conceived by Cameron 14 years ago, when the means to realize his vision did not yet exist. Now, after four years of actual production work, AVATAR delivers a fully immersive cinematic experience of a new kind, where the revolutionary technology invented to make the film, disappears into the emotion of the characters and the sweep of the story.

As to the new project, no names have surfaced yet, other than Cameron and Salerno. If “Avatar” is a hit, expect it go into high gear quickly.