The relative newcomer is working on a script based on George Orwell's classic novel, reports Deadline.
Street artist Shepard Fairey was instrumental in launching the project, and is producing the film with Imagine Entertainment.
The legendary dystopian 1948 novel is set in a future world in which the population is ruled by the iron fist of the faceless 'Big Brother'.
Nineteen Eighty-Four was previously adapted by director Michael Radford into a film in 1984, with John Hurt starring as Winston Smith.
Oppenheim has also been working on the upcoming remakes of Snabba Cash and WarGames.
Watch the 1984 Nineteen Eighty-Four trailer below: