ExxonMobil in Houston: Oil and gas giant announces headquarters moving from Irving, Texas to Spring

The energy giant announced Monday that it is moving headquarters from Irving, Texas to the campus north of Houston in the Spring area.

The move is scheduled to be completed by mid-2023, ExxonMobil said in a statement.

According to a press release from the company, the move will enable closer teamwork to accelerate and increase value delivery.

“We greatly appreciate our long history at Irving and appreciate the strong ties we have developed in the North Texas community,” said Darren Woods, Chairman and CEO. “Closer collaboration and the new streamlined business model will enable the company to increase shareholder value and position ExxonMobil for success through energy transition.”[ads1];

The move is part of a larger business structure that streamlines the announcement.

“They moved from New York to Dallas a few decades ago, and it was a clear tip to say, you know, the center of energy activity is in the state of Texas,” said Energy Manager Ramanan Krishnamoorti at the University of Houston.

Krishnamoorti adds that Exxon Mobil’s latest move to move its corporate offices from Irving to its existing office in the spring is big news for Texas.

“Exxon is switching from Dallas, which is clearly closer to the production side, instead of production and utilization and the pipeline,” says Krishnamoorti.

The oil giant said in a press release that they are streamlining the business structure to increase efficiency, increase value and reduce costs to better support their customers.

ExxonMobil told ABC13 in an email that 250 people are currently working at the Irving site, including the CEO and management committee.

Right now, there are more than 10,000 employees working on the company’s 385-acre campus in Spring, which opened in 2014.

Krishnamoorti says this is a clear indication of how the company is developing, “We will continue to export a lot globally, but for Exxon and hydrocarbons to move forward, we must address the carbon emissions problem.”

They have just formed a group of 14 companies that put $ 100 billion into the ship channel to deal with carbon emissions. The company said that this restructuring could save the company $ 6 billion in structural costs with plans to relocate by mid-2023.

ExxonMobil said it is transforming its business structure to be organized along three lines with effect from April 1, including; 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 teams that offer similar capabilities, building on the successful consolidation of major projects across the company in 2019,” the company said in a release.

In response to the announcement, Houston Mayor Sylvester Turner said the move will provide a strong workforce and a wealth of resources.

“I welcome (Monday’s) news that ExxonMobil will move its headquarters to the Houston area. As the 10th largest company in the United States, according to Fortune 500, Exxon will bring a strong workforce and a wealth of resources. In this city, we is working with our energy sector to move forward positively in a way that can benefit Houston residents and create a global impact on climate, resilience and sustainability. Exxon’s decision further supports Houston as a hub for energy transition. “projects with the company, including large-scale distribution of carbon capture and storage technology (CCS). We look forward to opportunities to collaborate in the future for the benefit of the Houston area,” said Turner.