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The actor is to be reunited with co-stars Orlando Bloom, Sir Ian McKellen and Cate Blanchett on the project's New Zealand set.
He told Collider: "It's now over a decade since I went out to New Zealand to start The Lord of the Rings, so it's just going to be a beautiful reunion.
"I was actually out there last year and a lot of the same crew and designers and so many of the family are a part of making The Hobbit as well."
Wood added: "It's just going to be a beautiful, very surreal reunion."
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