By Angel Gonzalez
Of DOW JONES NEWSWIRES
Exxon Mobil Corp. (XOM) said Tuesday it would consolidate its far-flung Houston-area staff into a new development located at the northern edge of the world’s energy capital.
The new 385-acre low-rise campus will gather employees from Exxon’s upstream head office, as well as its chemical unit and various support staff, who are currently scattered in three different locations dozens of miles apart.
Employees will begin moving into the campus in early 2014, and full occupancy is expected by 2015.
The company said it is still considering whether to fold any of its other U.S. offices into the new campus, which can house 8,000 employees and will be located about 20 miles north of downtown. The company’s refining operations have facilities in Fairfax, Va. and in New Jersey. However, the company is not envisaging folding its Dallas-area headquarters, nor the Fort Worth-based offices of XTO Energy, into the campus, Exxon spokesman Alan Jeffers said.
“This new campus provides an opportunity to consolidate many of our Houston offices in one location, which will provide a high-quality working environment as our employees continue to support Exxon Mobil’s mission of delivering energy to meet growing global needs,” said Bryan Milton, president of Exxon Mobil Global Services Company.
The complex will comprise multiple low-rise office buildings, a laboratory, conference and training centers and amenities such as childcare and a wellness center, the company said.
Jeffers added that the company has not made a decision on the fate of its iconic downtown Houston skyscraper, which was built in the 1960’s and houses the city’s storied Petroleum Club.
Jeffers added that Exxon’s analysis shows that the new campus will generate 44,000 permanent jobs in the area after it’s built. “It will have a significant positive impact in both Texas and the Houston area economies,” Jeffers said.
Exxon Mobil, the world’s largest publicly-traded energy company, has had a surge in earnings recently, helped by higher oil prices.
Shares recently traded at $80.82, up 0.7%. The stock is up about 36% over the past year.
-By Angel Gonzalez, Dow Jones Newswires; 713-547-9214;angel.gonzalez@dowjones.com
–Matt Jerzemsky contributed to this article
