This is an exploratory study that serves as an inventory of petroleum skills, training, and educational institutions in Ghana as of July 2012. It evaluates Ghanaians’ state of preparedness to perform competently, especially technical, professional, management, and supervisory jobs, through which the country can fulfill the expectations that the burgeoning oil and gas sector has raised. It examines the extent to which skills needed for the new petroleum sector exist and what is being done by training institutions and programs to make more nationals ready and able to perform oil and gas jobs. It discusses the roles of an overarching national development vision and plan and an appropriate policy framework to use petroleum resources to generate jobs for indigenous Ghanaians as one of the most powerful antidotes for the resource curse. By providing a baseline for future studies, it contributes to the crafting of policies and legislation to optimize the use of hydrocarbons in Ghana and the rest of Africa.