Add half the oil to a large skillet and heat on medium.
Add 10 ounces of the spinach, one handful at a time, stirring and letting each handful wilt before adding another handful. This will take 4 or 5 minutes.
Remove spinach to a large dinner plate and set aside. Repeat with the remaining oil and 10 ounces of spinach, another 4 or 5 minutes.
Add the second batch of wilted spinach to the plate and use another same-size plate set bottom down over the spinach and carefully squeeze the two plates together over a sink to get out the excess water.
Chop the drained spinach coarsely, then return it to the skillet, and cook, stirring, over medium heat to evaporate more water, 1 or 2 minutes.
Add the cream, cardamom, and nutmeg, and stir until slightly thickened, about 3 minutes.
Taste and adjust seasonings. Remove from heat and serve hot.