Equinor and Aker BP are in the final planning stage of their $7 billion joint Noaka project, with key engineering contracts expected to be awarded within months.

The envisaged project — also known as North of Alvheim-Krafla-Askja — is set to be one of the largest in recent years on the Norwegian continental shelf, with progress coming after years of wrangling between the two operators over an area-wide development plan.

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