Robert Eggers is directing the project from his own script, according to The Hollywood Reporter.
The film, which is scheduled to go on floors this year, is set in the world of old sea-faring myths, taking place in Nova Scotia in the early 20th century and centring on an aging lighthouse keeper (Dafoe).
Rodrigo Teixeira and Lourenco Sant' Anna will produce via their Brazil-based RT Features.
The project hails from A24, which recently worked with Pattinson on "Good Time" and Dafoe on "The Florida Project".
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