Gabon believes its oil revenue will more than double in 2010 to $1.95 billion. The government is also starting a higher institute for training in oil and gas that will be financed through loans from France, Bloomberg News reported. Gabon borders the Republic of Congo, Cameroon and Equatorial Guinea.

Earlier this month, France's Etablissements Maurel & Prom SA reported successful drilling at its OMOC-N-1 exploration well in Gabon and Total, Europe's third-largest oil company, renewed exploration contracts with Gabon's government. The oil industry accounts for more than half of Gabon's GDP, according to the CIA's World Fact Book.

Gabon's aim to invest more in its energy resources comes at a time when the nation is afflicted with 21% unemployment and a debt-to-GDP ratio of nearly 35%. Angola and Nigeria are Africa's two largest oil producers.