The Skyblivion (obviously) project is a volunteer run attempt to soup-up The Elder Scrolls: Oblivion in the Skyrim engine.
A group of fans, modders and programmers going by the name of TES Renewal Project have been working on porting Oblivion into its sequals engine for some time. Their hope is that by showing off the fruits of their labours so far, they can attract more programmers to give up their time for the project.
If you like what you see and have the technical know-how and spare time, you can find more info on the TES Renewal Project forums. The video below is a bit of a slog at 43 minutes, but you can check out more videos of what Skyblivion will look like on the YouTube page and trust me, it’s definitely worth a look.