The company announced the plans in a press release on Monday.
"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 CEO of ExxonMobil. "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."
ExxonMobil says the move is part of its business structure transformation and will "enable closer teamwork to accelerate and increase value delivery through company-wide approaches."
The company's move to Spring increases the number of Fortune 500 companies in the Houston area to 25, one of the largest in the country, according to the Greater Houston Partnership.
"We are thrilled with today’s news," said Partnership President and CEO Bob Harvey. "ExxonMobil’s move further solidifies Houston’s position as the Energy Capital of the World. ExxonMobil is a key participant in our Houston Energy Transition Initiative, and we look forward to working with the company as we continue to position Houston to lead the energy transition to a low-carbon future.
ExxonMobil said it is on track to save more than $6 billion in structural costs by 2023 by combining chemical and downstream business and centralizing technology and engineering services.
The headquarters should be fully established in Spring by mid-2023.