Daniel Craig sports a grizzled, bearded look as James Bond in the first official image released from Bond 23 - Skyfall

The 23rd film in the James Bond cinematic franchise is all set to release on 26 October. The next project, interestingly, is already in the works and according to producers Sony, is scheduled for a 2014 release.

The typical Bond film schedule is to produce one film every two years. The rule was followed religiously through the 60s, 70s and 80s but broken for the filming and release of "Skyfall", the newest one, which will be released four years after "Quantum of Solace".

Meanwhile, there are continued speculations over the possibility of somebody replacing Daniel Craig in the iconic title role for the 24th film. Craig has three (including "Skyfall") Bond films to his credit, which is the length of his contract with EON productions. There has been no official word on extending the contract.

"Daniel's been a terrific Bond, a superb actor and a terrific man. The fans love him and I don't think there's a better actor to play the par," producer Michael G Wilson told Celebrity Cafe. This will come as a boost to Craig who was earlier criticised for not having the right looks of a Bond.

The news that the 24th film was in the works was revealed during the release of the trailer for "Skyfall".

According to the Metro, the trailer shows Judi Dench (M) and Ralph Fiennes (Mallory) watching from behind a two-way mirror as Craig (Bond) is seen looking at the city of London. A piped voice asks "Country?" Craig replies "England". The trailer also shows Bond in a car chase through the streets of London.

The basic premise of the film, it is understood, is that Bond's loyalty to M is tested, following revelations from her past. According to IMDB, as MI6 comes under attack, 007 must track down and destroy the threat, no matter how personal the cost.

The film will star Javier Bardem and Naomie Harris, in addition to Craig, Dench and Fiennes.

Check Out the Trailer Below: