Last Resort will focus on the crew of a US nuclear submarine, who become fugitives when they refuse to fire the craft's missiles.
Green Lantern director Campbell is now in talks to helm the first episode, according to Deadline.
The New Zealand-born filmmaker has previously directed 1998's The Mask of Zorro and James Bond films Goldeneye (1995) and Casino Royale (2006).
Writing on his Twitter, Shawn Ryan confirmed that Last Resort is close to a pick-up but has yet to be formally commissioned.
"Breaking my Twitter silence just to say that A) our ABC project is called Last Resort with no 'The' and B) ABC pickup is not official yet," he said.
In addition to his work on FX's The Shield, Ryan served as showrunner on Lie to Me and created short-lived Fox drama The Chicago Code.
ABC recently made its first drama pilot pick-up for the 2012-13 television season, commissioning Roland Emmerich's untitled fantasy pilot.
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