Peaky Blinders creator Steven Knight will write the forthcoming film, which will be directed by Dune's Denis Villeneuve. However, the new James Bond actor is yet to be confirmed.
Heyman said: "It's early days. I think we have a magnificent director, a wonderful writer. And it's great to be working with Amy Pascal as a partner on this odyssey."
He added: "It's a tall order. Barbara Broccoli and Michael G Wilson did such a remarkable job over the years."
Heyman is best known for producing all eight Harry Potter movies, as well as the three Paddington films. Amy Pascal produced the three Tom Holland Spider-Man movies, as well as the animated Spider-Man: Into the Spider-verse and its sequel Across the Spider-verse.
The new film he made with Pascal was screened at the Royal Festival Hall.
Jay Kelly stars George Clooney as the title character - a movie star in his 60s looking back at his life and career, and re-examining how the choices he made have affected his family.
Heyman previously worked with Clooney on the Oscar winning sci-fi drama Gravity.
"He's just a wonderful actor, this part is particularly brave. He's going to very uncomfortable places, exposing some really vulnerability. Because the film is also very much about the facades we put on in our lives."
The Oscar winning actor was also on red carpet, and explained that while he's a similar age to his character, he feels he hasn't made the same misjudgements.
"It's about sacrifices we all make," Clooney says. "The character I play, he's got a lot of regret. And I don't really have quite that much regret, I've had a fairly full life. I have great friends and great family. So I feel very lucky to have pursued my career in the way that I have."
In the film, Jay Kelly is looking back on his career, but Clooney says he is still looking forward, with things progressing on what will be his fourth film in the Ocean's 11 series, Ocean's 14.
"We got our budget approved, so now we've just got to find a date when everybody's available which Is a little bit of a trick. But we're getting to work on it."
Jay Kelly also stars Adam Sandler as Clooney's long suffering manager. He says he was able to draw on his past experiences to explore the role.
"Like everyone in the world you have good friends, you have people you believe in [that] you love. And my character gets to believe in my friend Clooney.
"I think he's a very funny, good, giving man. And I know him over the years, and this is the first time I ever got to sit and hang out with George for long sets of time, and we had nothing but fun."
Sandler's performance is already drawing Oscar buzz, but he says right now it is not something he is giving too much thought to.
"That's a very interesting thought. I don't know. I don't really think about that stuff," he says. "People have mentioned nice stuff about our movie, and I'm proud of that."
Jay Kelly will be released in cinemas on 14 November, and on Netflix on 5 December.