Speaking to IGN, Abrams said, “We have a meeting coming up next week with Valve, we’re very active, I’m hoping that there will be a Portal announcement fairly soon.” As to whether or not the movie will actually be building on the existing storylines in the game, Abrams seemed a bit reluctant to give the details away (not surprising).
According to Abrams, “We are having some really interesting discussions with writers, many of whom…once you said you’re doing a movie or show about a specific thing that is a known quantity you start to find people who are rabid about these things. As someone who loves playing Half Life and Portal, what’s the movie of this, it’s incredible when you talk to someone who just ‘gets’ it, it’s like, oh my god, it’s really the seed for this incredible tree you’re growing.”
Portal isn’t the only movie in development as it was confirmed that we can expect a Half-Life movie as well, but it seems that maybe Portal could be further along in development based on what Abrams has said. Still no word on when we can expect its release, but we probably shouldn’t be holding our breath.