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Phase 1 of the North Sea megaproject—Norway’s largest offshore development since the 1980s—has come on stream. Johan Sverdrup is expected to produce 660,000 BOPD at its peak. Aker BP expects the unmanned facility, a further development of the Valhall field in the Norwegian North Sea, to recover 60 million BOE. Startup is expected sometime this fall. After seeing a significant increase in the price level for subsea equipment, Equinor says it is realizing the ways in which standardized subsea templates help build financial competitiveness.

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