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ExxonMobil Streamlines Upstream Organization to Support Growth Plans

Exxon Mobil Corporation will streamline its upstream organization and centralize project delivery across the company to support previously announced plans to double operating cash flow and earnings by 2025.

The reorganization will be effective 1 April and result in the creation of three new upstream companies: ExxonMobil Upstream Oil & Gas Company, ExxonMobil Upstream Business Development Company, and ExxonMobil Upstream Integrated Solutions Company.

“We’re simplifying and integrating our upstream organization to better capitalize on the industry-leading portfolio we’ve assembled through acquisitions and exploration success in the US Permian Basin, Guyana, Mozambique, Papua New Guinea, and Brazil,” said Neil Chapman, senior vice president.

“Our focus is on increasing overall value by strengthening our upstream business and further integrating it with the downstream and chemical segments to take advantage of our unique capabilities across the value chain. A clear example is what we’re doing in the Permian, which includes upstream, midstream, and downstream investments, enabling us to maximize value unlike any of our competitors,” he said.

The ExxonMobil Upstream Oil & Gas Company will focus on end-to-end value chain management in five distinct global businesses: unconventional, liquefied natural gas, deepwater, heavy oil, and conventional.

ExxonMobil Upstream Business Development Company will oversee strategy development, exploration, acquisitions and divestments

ExxonMobil Upstream Integrated Solutions Company will provide technical and specialized commercial skills, such as drilling, research and technology, gas and power market optimization, and the global deployment of resources.

A single organization, ExxonMobil Global Projects Company, will centralize major capital project planning and execution expertise that will support all three business segments—upstream, downstream, and chemical.

The following executives will lead the new companies:

  • Liam Mallon, currently president of ExxonMobil Development Company, will become president of ExxonMobil Upstream Oil & Gas Company.
  • Steve Greenlee, currently president of ExxonMobil Exploration Company, will become president of ExxonMobil Upstream Business Development Company.
  • Linda DuCharme, currently president of ExxonMobil Global Services Company, will become president of ExxonMobil Upstream Integrated Solutions Company.
  • Neil Duffin, currently president of ExxonMobil Production Company, will become president of ExxonMobil Global Projects Company.

ExxonMobil Streamlines Upstream Organization to Support Growth Plans

31 January 2019

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