International oil and gas company ExxonMobil is headed to the greater Houston area.
The move is scheduled to be completed by mid-year 2023, ExxonMobil said in a statement.
According to a press release from the company, the relocation will enable closer teamwork to accelerate and increase value delivery.
“We greatly value our long history in Irving and appreciate the strong ties we have developed in the North Texas community,” said Darren Woods, chairman and chief executive officer. “Closer collaboration and the new streamlined business model will enable the company to grow shareholder value and position ExxonMobil for success through the energy transition.”
The relocation is part of a bigger business structure streamlining announcement.
ExxonMobil said it is transforming its business structure to be organized along three lines effective April 1 – ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
“They will be supported by a single technology organization, ExxonMobil Technology and Engineering, and other centralized service-delivery groups providing like capabilities, building on the successful consolidation of major projects across the corporation in 2019,” the company said in a release.