Nick Breckon, community manager at Bethesda, has confirmed that The Elder Scrolls V: Skyrim is running on an "all new" engine.
Posting on Twitter moments ago, Breckon said: "We can now confirm that the TES V: Skyrim engine is all-new. And it looks fantastic."
Skyrim was earlier today given a release date of November 11, 2011, along with a new trailer which you can see here.
The title will be a direct sequel to Oblivion and has been in development for two years. Bethesda is yet to confirm the platforms that Skyrim will be released on.
Skyrim has been seen in previous Elder Scrolls games, and is famous for being one of the most bitterly cold provinces in all of Tamriel.