(Bloomberg) -- Chevron Corp. plans to sell its campus in San Francisco Bay area and give employees the option of moving to Houston in the latest corporate relocation to Texas. 

The second-largest US oil explorer will lease new office space in San Ramon, California, and maintain its corporate headquarters in the Golden State where it’s been located for more than 140 years, according to a statement Friday. Chevron’s biggest US office is in Houston. 

“The current real estate market provides the opportunity to right-size our office space to meet the requirements of our headquarters-based employee population,” the company said. 

Chevron expects the move to take place during the third quarter of 2023. The Wall Street Journal earlier reported the announcement.

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