Disney is finally setting sail with the long-awaited Pirates of the Caribbean: Dead Men Tell No Tales, with production confirmed to begin in February 2015 on location in Queensland, Australia.

Australian Attorney-General and Minister for the Arts George Brandis confirmed that the government has issued a $21.6 million tax incentive to the project, which will be the largest international feature ever to shoot in Australia.

RELATED: Johnny Depp Is Ready to Play Jack Sparrow at Kids' Parties to Keep the Spirit Alive

Here's what George Brandis had to say about the deal in a statement.

"The Australian government (is) delighted to have secured the high profile fifth installment in the 'Pirates of the Caribbean' franchise to film in Australia with a contribution of $21.6 million. This is a landmark deal with Walt Disney Studios. This film will be the largest international feature film ever to shoot in Australia and will focus the world's attention on Australia as a leading film destination."

Philip Steuer, Senior Vice President, Physical Production, The Walt Disney Studios, also issued the following statement.

"Disney is pleased to be working with both the Australian Government and Queensland Government as we prepare to set sail on our next Pirates adventure. Queensland has an incredibly diverse landscape and Australia's robust entertainment industry and many accomplished craftsmen will provide a fantastic home base for our production."

Producer Jerry Bruckheimer added his own statement about returning to Australia.

"We had a wonderful experience filming in Queensland some years back and look forward to returning. With its oceans, beaches, and jungles, Queensland has an incredible array of natural environments which are perfect for our new Pirates of the Caribbean."

We reported in August that Disney was looking to shift the funds Australia promised for 20,000 Leagues Under the Sea: Captain Nemo, which was shelved after David Fincher dropped out, over to Pirates of the Caribbean: Dead Men Tell No Tales.

Johnny Depp is set to return as Captain Jack Sparrow, but no other cast members have been confirmed. Orlando Bloom, who played Will Turner in the first three Pirates of the Caribbean movies, revealed last month he is open to returning. Disney announced this summer that the sequel will open on July 7, 2017.