The government of Gabon has set out plans for a new oil and gas training institute as part of a finance partnership with France.

In a statement this week, the country's president Ali Bongo Ondimba announced the establishment of a new state-run oil and gas company that would work strategically to maximise gains from the country's natural resources.

The company will also be part-owned by French oil major Total and the group will oversee investment in new oil and gas training facilities that will help local workers to get ahead in the country's burgeoning oil and gas industry.

Speaking on the RTG1 television channel, the president confirmed: "The company will materialise the presence of the Gabon government in the strategic area of oil."

According to US State Department figures, oil revenues comprise 65 per cent of Gabon's national budget, 81 per cent of exports and 43 per cent of gross domestic product

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