The number of exploration wells to be drilled off Norway is set to rise to around 55 this year as drilling activity rebounds after a four-year market slump and is expected to remain at around the same level over the next few years, according to Rystad Energy.

The Oslo-based research firm has forecast “this high activity level will be sustained through the winter season and into 2020”, with between 30 and 50 exploration wells to be drilled annually towards 2023.