The folks doing impressive work over at The Elder Scrolls Renewal Project aren't merely bringing the content of Morrowind into Skyrim with Skywind -- they're also giving Oblivion (and its DLC) the same treatment with a project called Skyblivion. It may be a silly name, but it's memorable!
The mod isn't far enough along in production to go public yet, hence this teaser trailer. According to its organizers, separate TESRenewal teams are making Skyblivion and Skywind, so development on the latter project, which is much further along, won't be affected.
As someone who played the hell out of Oblivion but couldn't get into Skyrim as much, I'm in.