ExxonMobil streamlines upstream organization growth support

ExxonMobil streamlines upstream organization for growth support

11:51 AM, 1st February 2019
ExxonMobil logo

IRVING, TEXAS: Exxon Mobil Corporation said it 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.

“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,” said Neil Chapman, senior VP.

ExxonMobil Upstream Business Development Company will oversee strategy development, exploration, acquisitions and divestments and actively manage an upstream portfolio that is considered the most attractive since the 1999 merger of Exxon and Mobil. Consolidation of upstream portfolio management efforts in one organization will further strengthen the company’s ability to optimize portfolio value.

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

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.

© Worldofchemicals News

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