Should the deal come to fruition, Bullock would play an astronaut working on a remote space station that is destroyed by satellite debris, which winds up killing most of her fellow crew members. She is forced to put up the fight of her life in order to get back to her daughter on Earth.
Like Tom Hanks in "Cast Away," the lead role calls for a high-caliber actress who is able to hold the screen by herself for most of the running time, and Bullock certainly fits that bill, not that she needed to win an Oscar last year in order to justify her acting chops.
"Black Swan" star Natalie Portman had previously been in negotiations to topline the ambitious project, but scheduling issues forced the actress to bow out.
Over the past few months, Deal Central had also heard rumors that Marion Cotillard and Lynn Collins were being considered for the project, along with the rest of Hollywood, should one put stock in the laundry list of names floated by Deadline.
Cuaron plans to shoot the $80 million movie in 3D. He also wrote the script with his son, Jonas.
Coming off her Oscar win for "The Blind Side," Bullock has been in high demand. The actress is attached to star in the drama "Extremely Loud and Incredibly Close," and she's also set to re-team with her "Proposal" co-star Ryan Reynolds in the comedy "Most Wanted."
Bullock is represented by CAA, and the news of her being in active negotiations for the project was first reported by Variety.