The script has been adapted by Band of Brothers writer and producer Erik Jendresen from the novel written by Davin Seay and military interrogator Eric Maddox.
Tim Haslam and Hugo Grumbar's newly launched Embankment Films will be selling the movie at the Cannes Film Market.
Mission: Blacklist is the true story of the Maddox-helmed hunt for Saddam Hussein.
"This movie is a gripping, edge of your seat thriller," said producer Ross M Dinerstein. "I have been inspired by Robert and Jean-Stéphane's dedication to tell this story in the most authentic way possible, and I'm thrilled to add Hugo and Tim to our team."
Pattinson will next be seen in David Cronenberg's Cosmopolis, which will debut at the Cannes Film Festival this month.
He recently starred in Bel Ami alongside Uma Thurman, Kristin Scott Thomas and Christina Ricci.