Moland, who is in France for the Cannes film festival, told Aftenposten newspaper that the 1964 British-Yugoslav production of the story, The Long Ships, had been "a disaster".
"The genius of Bengtsson's text is that it contains a solid political and social analysis of the time the Vikings lived in," Moland said. "We want to get under the skin of the people, both the Vikings and in the country's they travel to."
Peter Albæk Jensen, the legendary producer with Zentropa, the Danish film company said that the planned Viking film would be special.
"Can you name a single truly successful movie about Vikings?" he asked. "No, it is mostly gibberish and nonsense which has been made on this subject. It is time we rectify this," he said.
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The film will feature Moland's friend and longstanding collaborator Stellan Skarsgård.