Matt Damon is set to star in Marc Rich biopic 'The King of Oil'.

The 47-year-old actor is believed to be in talks for the leading role in the biographical flick based on the autobiography 'The King of Oil: The Secret Lives of Marc Rich', written by Daniel Ammann.

Matt would star as Marc Rich, a fugitive billionaire commodities trader that was pardoned by President Bill Clinton on his last day in office, in what proved to be a controversial decision for the leader.

Marc became richest and most powerful commodities trader of the century, and in 1983 he was indicted on 65 criminal counts, including tax evasion.

The autobiography also detailed Marc's illegal dealings with Iran during the hostage crisis and his quiet cooperation with the Cuban, Israeli and US governments.

Marc never faced a judge or jury for his crimes as he was in Switzerland when he was indicted and remained abroad until his passing in 2013 at the age of 78.

According to Deadline, the movie is being produced by John Krasinski's Sunday Night Productions banner for Universal Pictures, after its recent work on thriller 'A Quiet Place'.

Reports also suggest 38-year-old John will step up to helm the feature - though no director has been confirmed as of the time of writing - which would bring him back together with Matt after having previously worked with the star on 'Manchester By The Sea' and 'Promised Land'.

Alongside John, Allyson Seeger is also producing for Sunday Night Productions, whilst Vincent Sieber and Uri Singer will also produce.

Joe Shrapnel and Anna Waterhouse will adapt the screenplay for the movie, whilst Executive Vice President Mark Sourian will oversee production on behalf of Universal.

As of the time of writing, it is unknown when the movie is scheduled for release.