Is it possible to make a minimap like the one in morrowind instead of that compass which shows every point of interest near you ? I've totally disabled the compass but a minimap would be nice so i don't have to switch to world map everytime i need to know in which direction am i going.

wouldnt a map and compass u can toggle on and off be better?
more realistic
or are u going for that gps feel?

Yes, it should be doable. _wz made one for Oblivion, so I suspect one should be able to be made for Skyrim.