2K Games has announced a new studio that will be working on the next entry in its BioShock franchise.

Called Cloud Chamber, the studio will be based in both San Francisco and Montreal.

While 2K confirmed Cloud Chamber would be working on the next iteration of the acclaimed BioShock franchise, the publisher noted the title would be "in development for the next several years."

"BioShock is one of the most beloved, critically praised and highest-rated franchises of the last console generation," said 2K president David Ismailer. "We can’t wait to see where its powerful narrative and iconic, first-person shooter gameplay head in the future with our new studio team at Cloud Chamber leading the charge."

The new studio will be headed by Kelley Gilmore, whose credits include Sid Meier’s Civilization, and XCOM.

"We founded Cloud Chamber to create yet-to-be-discovered worlds – and their stories within – that push the boundaries of what is possible in the video game medium," said Gilmore.

"Our team believes in the beauty and strength of diversity, in both the makeup of the studio and the nature of its thinking. We are a deeply experienced group of game makers, including many responsible for BioShock’s principal creation, advancement and longstanding notoriety, and honored to be part of the 2K family as stewards of this iconic franchise."

Rumours of a new BioShock game have been circulating for years, with the last entry in the series, BioShock Infinite releasing back in 2013.

According to Kotaku, this "next entry" from Cloud Chamber marks a reboot from a previously unreleased project by developer Certain Affinity.

Codenamed Parkside, development started as far back as 2015, but the project was scrapped by 2K at the end of 2016, moving the project in-house.

Meanwhile many of the staff for 2K's new Cloud Chamber studio appear to have come from Hanger 13, the developer known most recently for Mafia 3.

Whatever the end product turns out to be, it sounds like the next BioShock title already has an interesting behind-the-scenes story at least.