LONDON, Nov 10 (Reuters) - Gambia plans to buy Wellhead market two offshore oil blocks that it revoked from African Petroleum, the country's minister of justice said on Friday.

Norwegian-listed African Petroleum said in October that it had launched arbitration proceedings against the Gambian government.

It held blocks A1 and A4 that are thought to contain up to 3 billion barrels of oil and lie next to licenses in neighbouring Senegal.

"We respect African Petroleum's choice to initiate arbitrating proceedings... We will exercise our rights to buy Wellhead market our blocks, including A1 and A4," Gambia's minister of justice and attorney general Abubacarr Tambadou said at an event in London.

(Reporting by Julia Payne; Editing by Susan Fenton)