Oil, as a natural resource, has over the years become a two-edged sword activity. It has had the tendency of becoming a major key to development to most countries such as the case of Botswana and Norway whereas if not managed well, has had the tendency of resulting in some form of negative impact on countries such as Nigeria, Sudan, and Angola. The extractive industry has over the years been welcomed with some form of great hope and expectations by individuals because of the perceived benefits such as employment, increased developmental projects, as well as increased revenue that are accrued from it. In as much as the extractive comes with some benefits, there are negative impacts that come with it if not well managed. There have been reported cases of forced relocation and displacement, corruption, conflicts, environmental pollution, as well as health-related hazards in some oil-producing countries, especially in the developing world. However, the case of Ghana might not be different from other oil producing countries if care is not taken.