Epic Games, People Can Fly and Electronic Arts have all confirmed that a new and original intellectual property by the name of Bulletstorm is indeed in development, and is set to release in 2011 on Xbox 360, PS3 and PC.

Bulletstorm, a “Blood Symphony of Gunplay and Carnage,” will aim to bring new spectacle to the world of first-person shooters with its ‘kill and skill’ gameplay and an array of blockbuster moments.

The game follows the story Grayson Hunt and Ishi Sato, both members of an elite band of mercenaries called Dead Echo, who are tasked with protecting a futuristic confederation.

Hunt and Sato are soon betrayed by their commander after learning that they’ve been working for the wrong side the whole time, and are exiled to an abandoned paradise planet in the far reaches of the galaxy, now filled with hordes of mutants and flesh-eating gangs against which Hunt and Sato must survive long enough to escape the planet, and subsequently exact revenge on the man who condemned them.

As Grayson Hunt, players will have access to an array of (naturally) “over-the-top” combat moves and “outrageously large guns.” Bulletstorm includes a range of different ‘skillshots’ that reward players with more points to upgrade their characters and unlock weapons, and pull off even more amazing moves and skillshots.

Epic Games President Dr. Michael Capps said of Bulletstorm:

“Bulletstorm is the kind of game we love to make because it’s pure, unadulterated entertainment. People Can Fly has created a wildly fun first-person shooter that looks gorgeous running on the latest Unreal Engine 3 technology, and the skillshot system is a welcome addition to the genre. We can’t wait to see how everyone reacts to seeing Bulletstorm.”

Similarly, Senior Vice President and General Manager of EA Partners, David DeMartini commented:

“We’re very excited to work with Epic Games and People Can Fly on this new project. The first time we laid eyes on Bulletstorm, we instantly knew this is going to be the next big hit from these two great studios delivering yet again an entirely new experience for shooter fans.”

Bulletstorm is currently the cover story for the latest issue of gaming magazine Game Informer, and could very well be more fully detailed later tonight in Cliff Bleszinski’s appearance on Late Night With Jimmy Fallon.