LIBREVILLE, Oct 3 (Reuters) - Gabon's state oil firm hasagreed its first oil production contract and says it hopes tosoon generate enough revenue to compete with international firmsfor offshore blocs.
Gabon is an OPEC member and Africa's fourth largest producerwith an output of around 220,000 barrels per day, dominated byinternational oil majors Total and Royal Dutch Shell.
Its state oil firm Gabon Oil Company (GOC) was created bydecree in 2011 and has until now mostly been focused mostly onselling crude oil produced by international firms and refinedproducts.
"The Mboumba field...(was) signed a few days ago with theoil ministry," said GOC managing director ArnauldEngandji-Alandji, a former advisor to President Ali Bongo, in aninterview with Reuters.
"Our strategy is to optimise our revenues onshore...togenerate enough cash so that in two or three years we can be amajor actor with offshore finds," he added.
The acquisition of the Mboumba field will mean GOC hasproduction of around 1,500 barrels per day.
Engandji-Alandji did not say how much it was acquired for orwhom it was purchased from. Local media said it formerlybelonged to Total Gabon but this could not immediately beconfirmed with a Total spokesman.
Gabon has allocated many new offshore licences in the pastfew years amid hopes that explorers would find vast reservestucked deep below a layer of salt in the seabed similar to thosediscovered offshore Brazil.
However, falling oil prices have dashed investment. (Reporting by Geraulds Wilfried Obangome; Writing by EmmaFarge, editing by William Hardy)
