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    Fast & Furious 7 Production Halted, How Paul Walker's Death Will Affect the Film's Future

    Jordana Brewster, Vin Diesel, Justin Lin, Michelle Rodriguez, Paul Walker Mark Renders/Getty Images

    Paul Walker's untimely passing has left studio executives scratching their heads over the fate of Fast and the Furious 7.

    According to The Hollywood Reporter, the franchise's seventh installment rests mainly in the hands of their insurance company, Fireman's Fund.

    The insurer has a number of variables to consider before they decide to continue with the film altogether.

    First there is the cost to possibly replace Walker's character should they choose to replace him at all.

    They must also determine how much it would cost to delay filming and rewrite the screenplay around the tragic loss.

    And considering that the film has been estimated to cost Universal over $150 million, their decision won't be taken lightly.

    PHOTOS: Paul's biggest movie roles

    Jordana Brewster, Paul Walker, Michelle Rodriguez, Vin Diesel Kevin Winter/Getty Images

    Walker was reportedly set to earn anywhere from $9 million to $14 million for the film.

    And there's yet another important factor involved. E! News has learned that 60 percent of the movie has been shot already.

    The cast and crew most recently returned from Atlanta and were slated to begin again in Abu Dhabi in January to shoot a few additional scenes, including the opening action sequence.

    A source told THR that Walker had "only five weeks left of shooting."

    It goes without saying that the studio had hopes of the film being a success, considering that Fast and Furious 6 grossed an astounding $789 million around the globe.

    On Wednesday morning, Universal Pictures released the following statement regarding the film's uncertain future.

    NEWS: Paul Walker's dad breaks down in tears over the actor's death

    Paul Walker, Joy Ride 20th Century Fox

    "Right now, all of us at Universal are dedicated to providing support to Paul's immediate family and our extended Fast & Furious family of cast, crew and filmmakers. At this time we feel it is our responsibility to shut down production on Fast & Furious 7 for a period of time so we can assess all options available to move forward with the franchise."

    It continued, "We are committed to keeping Fast & Furious fans informed, and we will provide further information to them when we have it. Until then, we know they join us in mourning the passing of our dear friend Paul Walker." 

    (E! and Universal Pictures are both part of the NBCUniversal family.)

    PHOTOS: Paul Walker's life in pictures

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