Although The Elder Scrolls IV: Oblivion Remastered overlaps with the fan-made remake mod Skyblivion, Bethesda still acknowledged the modders' efforts by giving them code for the new remaster.

That seemed like a real risk for Skyblivion, the ambitious, long-running effort to recreate Oblivion in the Skyrim engine, especially after it became clear that Bethesda was working on its own official Oblivion remaster.

TL;DR: Skyblivion is an ambitious fan remake of The Elder Scrolls IV: Oblivion using the Skyrim engine, featuring overhauled dungeons, environments, and quests after 11 years of development. Bethesda fully supports the project, providing the team with Oblivion Remastered keys and confirming no shutdown plans.